TeliaSonera controls 68 percent of the votes in TEO LT

Following the completion of the cash offer for TEO LT, TeliaSonera has increased its ownership to 68.08 per cent. In total, 23.47 million shares were submitted into the cash offer, which started on September 17 and ended on October 9. Almost 10 million shares were bought in the open market during the offer period at the price of the offer and another 6.4 million shares were bought in the open market between the announcement of the offer and the beginning of the offer period.

Thus, TeliaSonera increased its ownership in TEO LT by 39,895,616 shares, which comprise 14 percent of pre-announcement free-float, or 5.14 percent of total votes of TEO LT. Thereby, following the completion of the offer, TeliaSonera controls 68.08 percent of the voting shares in TEO LT. The settlement day of the offer is 14 October 2009.

“Our strategy is to increase our ownership in our core holdings and this was achieved both in TEO LT and Eesti Telekom. Our offer was obviously more successful in Estonia as we did not get as far in Lithuania, which is partly due to a different shareholder structure. Still we managed to increase our ownership which is very positive. Moreover, passing the threshold of two-thirds of the votes in the company, increases our influence which is to the benefit of TEO LT," Per-Arne Blomquist, Executive Vice President and CFO of TeliaSonera, said.

SEB Enskilda was acting as TeliaSonera’s sole financial advisor in this transaction. SEB was appointed as TeliaSonera’s broker for this offering. Lideika, Petrauskas, Valiūnas ir Partneriai LAWIN was acting as TeliaSonera’s Lithuanian legal advisers and Sullivan & Cromwell LLP was acting as international legal adviser.

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 07.30 a.m. CET on October 13, 2009.