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Telia suffer more fall outs from its collaboration with dictators

Friday, 27 April 2012
Another fall out from the Telia’s collaboration with dictators as we have pointed out in the past days continues to have negative effects on the company.

Reports hold that Swedbank has since the news was exposed that TeliaSonera collaborated with dictatorships decided to sell all of Telia shares in their sustainability funds. The shares at the time was valued at Skr500 million.

Just last week that Swedish television that revealed that the security services of several Central Asian countries have had full access to Telia's network and the opposition  members have been arrested after their data traffic and phone calls were being intercepted by police.

The revelation has led to several major shareholders to no longer wanting to be associated themselves with the company, most recently in the line is assets managed by Swedbank Robur.

Swedbank Robur has many different funds and TeliaSonera is one of them. Some funds invest in companies that will pay particular attention to ethics and sustainability.
“Because we have a customer promise for our sustainability funds and because we know what happened in those countries, we have had to sell our holding in TeliaSonera Shares in these particular funds,” said Thomas Eriksson, CEO of Swedbank Robur.

He says that the bank is critical to how TeliaSonera managed several issues, including that “because they are unclear about how to apply the local laws of different countries and how far-reaching concessions they may have made.

Today TeliaSonera announced that the company has promised to change in which many critics believe that he is signal that they have listened to the criticism.
“But it is also doing what is said to be done and that is transparent and clear on these issues in different countries,” says Thomas Eriksson.

Not long ago, the city of Stockholm threatened to withdraw telephone contracts when it comes up for renewal soon. Telia provide telephone services to workers of the Stockholm city council and that contract is on its way of becoming up for renewal.
By Team

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