Auditors criticize TeliaSonera sale process
AFP - [email protected]
Published: 18 Jun, 2008 CET.
Updated: Wed 18 Jun 2008 09:11 CET
Sweden's National Audit Office has accused the country's government of not being properly prepared to negotiate the highest price for its stake in TeliaSonera.
The office said the government had failed to use best practice when it sold an 8 percent stake in TeliaSonera last year and warned similar weaknesses threatened the coming sale of its 37 percent stake, the Financial Times reported.
France Telecom has lodged an informal takeover offer for TeliaSonera, which the Swedish government - as largest shareholder - and the Nordic telecoms company's board have rejected.
On Monday the French incumbent indicated it would extend a two-week period it had given itself to decide whether to formalize the offer.
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The office said the government had failed to use best practice when it sold an 8 percent stake in TeliaSonera last year and warned similar weaknesses threatened the coming sale of its 37 percent stake, the Financial Times reported.
France Telecom has lodged an informal takeover offer for TeliaSonera, which the Swedish government - as largest shareholder - and the Nordic telecoms company's board have rejected.
On Monday the French incumbent indicated it would extend a two-week period it had given itself to decide whether to formalize the offer.
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