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TELIA - Telia AB News Story

SEK36.64 0.1  0.3%

Last Trade - 14/05/21

Sector
Telecoms
Size
Large Cap
Market Cap £12.76bn
Enterprise Value £21.14bn
Revenue £7.54bn
Position in Universe 55th / 1832

UPDATE 1-Telia's finance chief Luiga named acting CEO as seeks Dennelind replacement

Wed 11th September, 2019 3:41pm
(Adds detail, background)
    STOCKHOLM, Sept 11 (Reuters) - Telecom operator Telia
 TELIA.ST  said on Wednesday that its chief financial officer
Christian Luiga would be active chief executive while it finds a
replacement for Johan Dennelind, who resigned unexpectedly in
August.  urn:newsml:reuters.com:*:nL8N25119D
    Dennelind, who since taking the helm in 2013 has transformed
Telia's strategy by seeking new growth opportunities, including
a push into television, will remain at Telia's disposal until he
leaves the Swedish group during 2020. 
    "He will act as an advisor in the closing of the acquisition
of Bonnier Broadcasting and in other important company issues,"
Telia said in a statement.     
    Telia is planning a takeover of Swedish television group
Bonnier Broadcasting, with the deal announced last year under
scrutiny by EU antitrust regulators.  urn:newsml:reuters.com:*:nL5N25T3PB
    The deal underlines the telecom industry's efforts to
compete with big internet players such as Netflix  NFLX.O  and
Amazon  AMZN.O  by acquiring media companies.
    Under Dennelind, Telia has withdrawn from nearly all of its
central Asian markets after years of investigations into alleged
corruption linked to local partners, such as in Uzbekistan, and
problems accessing cash in some markets.
    Telia said it had appointed Douglas Lubbe, whose most recent
role was CFO of Telia Sweden, as acting group CFO.
    Telia's shares were little changed at 1426 GMT. 

 (Reporting by Anna Ringstrom; Editing by Simon Johnson and
Alexander Smith)
 ((anna.ringstrom@thomsonreuters.com; +46-8-700 1134; Reuters
Messaging:
anna.ringstrom.thomsonreuters.com@thomsonreuters.com))
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