Lars-Eric Petersson declines reelection to TeliaSonera´s Board of Directors
Lars-Eric Petersson declines reelection to TeliaSonera's Board of
Lars-Eric Petersson has today notified Tapio Hintikka, Chairman of the
Board of TeliaSonera, and Leif Pagrotsky, Minister for Industry and
Trade, that he will not seek reelection to TeliaSonera's Board of
Directors at the Annual General Meeting 2003.
Lars-Eric Petersson explains his decision in a letter to Minister for
Industry and Trade Leif Pagrotsky:
"When I accepted the appointment as Chairman of the Board of Telia, we
faced three significant challenges. The first challenge was to prepare
for a possible initial public offering.
The second challenge involved identifying a structure for the company in
order to secure future development and growth.
The third challenge was to complement and expand the Board of Directors
and to provide the company with a highly qualified and stable management
able to lead the structural efforts.
I regarded these three challenges as the highest priorities of the Board
of Directors and understood that these were the expectations of Telia's
As the company has completed these efforts and a new company is being
established, I feel that this is a natural point in time for me to step
down from my role on the Board of Directors."
TeliaSoneras Press Office +46 8 713 58 30
This press release may contain forward-looking statements regarding
Telia's exchange offer to Sonera's shareholders and warrantholders.
Statements that are not strictly historical statements, including
statements about Telia's and Sonera's beliefs and expectations,
constitute forward-looking statements. By their nature, forward-looking
statements are subject to risk and uncertainty because they relate to
events and depend on circumstances that will occur in the future. Telia
and Sonera are under no obligation to, and expressly disclaim such
obligation to, update or alter their forward-looking statements, whether
as a result of new information, future events or otherwise.
Restrictions on Ability of Certain Persons to Participate in the
Due to restrictions under the securities laws of Australia, the Hong
Kong Special Administrative Region of the People's Republic of China,
Italy, Japan, New Zealand and South Africa, the exchange offer will not
be extended to persons with registered addresses in, and who are
residents of, any of Australia, the Hong Kong Special Administrative
Region of the People's Republic of China, Italy, Japan, New Zealand or
The combination of Sonera and Telia is being implemented through an
exchange offer being made by Telia to all shareholders of Sonera. The
contents of this document are neither an offer to purchase nor a
solicitation of an offer to sell shares of Telia. Any offer in the
United States will only be made through a prospectus, which is part of a
registration statement on Form F-4, which Telia filed with the U.S.
Securities and Exchange Commission (the "SEC") on October 1, 2002.
Sonera shareholders who are U.S. persons or are located in the United
States are urged to carefully review the registration statement on Form
F-4, the prospectus included therein and other documents relating to the
offer that Telia has filed or will file with the SEC because these
documents contain important information relating to the offer. You are
also urged to read the related solicitation/recommendation statement on
Schedule 14D-9 that was filed by Sonera with the SEC on October 1, 2002
regarding the offer. You may obtain a free copy of these documents at
the SEC's web site at www.sec.gov. You may also inspect and copy the
registration statement on Form F-4, as well as any documents
incorporated by reference therein, and the Schedule 14D-9 at the public
reference room maintained by the SEC at 450 Fifth Street, NW,
Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for
further information about the public reference room. These documents may
also be obtained free of charge by contacting Telia AB, Investor
Relations, SE-12386 Farsta, Sweden. Attention: External Communications
or Investor Relations (phone: +46 8 7137143, or Sonora, Teollisuuskatu
15, P.O. Box 106, FIN-00051 SONERA, Finland. Attention: Investor
Relations (phone: +358 20401). YOU SHOULD READ THE PROSPECTUS AND THE
SCHEDULE 14D-9 CAREFULLY BEFORE MAKING A DECISION CONCERNING THE OFFER.
TeliaSonera is the telecommunications leader in the Nordic region. The
Group's home market is the Nordic and Baltic regions. TeliaSonera´s
overall focus is on best serving its customers in its core business and
creating value for its shareholders through stronger profits and cash
flows. TeliaSonera is listed on Stockholmsbörsen, Helsinki Exchanges and
NASDAQ. Pro forma net sales in 2001 amounted to SEK 80.9 billion and the
number of employees as per June 30, 2002 was 34,045.
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