TeliaSonera rejects indicative offer by France Telecom
TeliaSonera confirms that the company’s Board of Directors have received a non-binding, indicative offer by France Telecom regarding a potential acquisition of TeliaSonera AB (publ).
The Board of Directors have engaged professional advisors to assist in its review and assessment of TeliaSonera and have unanimously decided not to support the indicative offer as it substantially undervalues the company.
“TeliaSonera is a strong business with excellent growth prospects in its own right. The Board and management are focused on developing the company to its full potential, driving strong and sustainable earnings growth and maximising value for all shareholders. The indicative price of SEK 56.225 per share significantly undervalues this potential,” says Tom von Weymarn Chairman of the Board of
TeliaSonera will make no further comment until there are substantial new developments in the situation necessitating further announcement.
TeliaSonera AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instrument Trading Act. The information was submitted for publication at 9.00 CET on June 5 2008.
For further information journalists can contact:
The TeliaSonera Press Office, +46-(0)8-713 58 30
Statements made in the press release relating to future status or circumstances, including future performance and other trend projections are forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to many factors, many of which are outside the control of TeliaSonera.