Telia proposes new chairman as pursues TV expansion
20/10/2019 16:48
STOCKHOLM, Oct 20 (Reuters) - Telia Group TELIA.ST has
proposed replacing its chairwoman Marie Ehrling with a senior
media and telecoms executive as it looks to expand in television
with a $1 billion bid for Bonnier Broadcasting.
The Nordic telecoms group on Sunday named Lars-Johan
Jarnheimer, chairman of publishing group Egmont Media and a
former member of the boards of mobile operator Millicom
TIGOsdb.ST and former television broadcasting group MTG
MTGb.ST , as chairman designate.
He would replace Ehrling who has held the post since 2013.
"I had envisaged staying on until April and now that is not
happening, and that is something I have to accept," Swedish news
agency TT quoted Ehrling as saying.
Telia, also in the process of replacing its chief executive
after Johan Dennelind resigned in August, has been withdrawing
from central Asia to focus on the Nordics and Baltics.
It wants to branch out into television and has made an offer
for Bonnier Broadcasting, parent of Sweden's biggest commercial
channel TV4.
The deal, announced in 2018 and under scrutiny by EU
regulators, is politically sensitive because the government -
owner of 38.35% of Telia's shares - already controls Sweden's
public service television network SVT. urn:newsml:reuters.com:*:nL5N22L6YB
Telia said it had received a request from the state to call
a general shareholders' meeting regarding the election of a new
chair, and that the nomination committee had agreed to nominate
Jarnheimer to the position. It did not say when the meeting
would be held. Its regular AGM is set for April 2 next year.
"Lars-Johan is strongly business minded," nomination
committee chair Daniel Kristiansson said in a statement, noting
he had extensive experience in both telecoms and media.
Jarnheimer was between 1999 and 2008 CEO of Telia's Swedish
rival Tele2 and is also chairman of IKEA's main retail vehicle
Ingka.
Telia said last week it was winding up a share buyback plan
early amid a need to preserve cash, sending its shares down.
urn:newsml:reuters.com:*:nL5N2722D7 urn:newsml:reuters.com:*:nL5N26249H
(Reporting by Anna Ringstrom
Editing by David Holmes)
((anna.ringstrom@thomsonreuters.com; +46 8 700 1134; Reuters
Messaging:
anna.ringstrom.thomsonreuters.com@thomsonreuters.net))