• Sweden edition
 
Sweden has 'no time frame' for state sell offs
Then-new Carnegie chairman Peter Norman after state takeover, December 2008

Sweden has 'no time frame' for state sell offs

Published: 19 Oct 2010 08:45 GMT+02:00
Updated: 19 Oct 2010 08:45 GMT+02:00

Sweden's new financial markets minister Peter Norman was on Monday unwilling to promise that share holdings in Nordea, SBAB and Telia, would be sold off during the current mandate period.

The Alliance government has previously indicated that sales of holdings in firms such as Nordea, SBAB and Telia would be carried out during the mandate period, but Peter Norman on Monday adopted a more cautious tone.

"I have no time plan whatsoever for this," he said in an interview with the Dagens Industri (DI) daily.

The sales would raise an estimated 100 billion kronor ($15 billion) for state coffers. Norman told the newspaper that taxpayers' interests are the decisive factor in determining when to sell.

"It will have to take the time it takes," he said to DI.

Norman also explained that the competitive situation within the banking market is also important in deciding a suitable opportunity for sales of shares in Nordea and SBAB.

He also told the newspaper that he planned to study loan margins within the banking sector and conduct regular correspondence with the banks on consumer conditions.

"I want to be a thorn in the side of the banks. Sometimes they can earn money a little too easily," he said.

Norman added that if the banks do not respond to encouragement then he was not averse to considering legislation.

TT/The Local (news@thelocal.se)

Don't miss...X
Left Right

Your comments about this article

12:18 October 19, 2010 by Åskar
Thank you for not selling our shared property. Could you now regain what you stole during the last four years as well, please.
15:50 October 19, 2010 by Mb 65
This is the worse thing they could do. Haven't they learn' t anything from what has happened in England. Now they have nothing. It is not theirs to sell, they belong to the Swedish tax payer. Any idiot knows that you do not sell a company when it is making a good profit. The french will buy everything and then the prices will rocket.
16:19 October 19, 2010 by Great Scott
Good to see some common sense comments for a change.
16:29 October 19, 2010 by Kevin Harris
Can the three posters above offer us an explanation why the state of Sweden presently needs to own shares in a bank, a loan company and a telecommunications company?
16:41 October 19, 2010 by Åskar
Why not? If it's not broken, don't fix it!
17:08 October 19, 2010 by TomJones27
@Mb 65 Totally agree. This is one step from letting the crooks owning the country leaving the citizens with nothing.

Privatizing and deregulation has killed the US economy as they, the banksters, have gambled away all of the taxpayers savings and then were bailed out to continue the fraud. Now they want access to Social Security, i.e Privatization, so they can steal that as well.
17:38 October 19, 2010 by harrylatour
Please do not let the 'sharks' force your government to sell off their interests in these companys,,,look at what happened to us in GB,,''oh,the private sector knows best and it will be more efficient'',,,,,utter bollox!! lok at all the crap that our private sector Bankers have got us into.NO,,dont give it ALL away,,,always keep something safe from these bloody cowboys.
19:08 October 19, 2010 by Great Scott
@Kevin Harris

Seems that you are out numbered, why do you need an explanation, seems to me that that the posts spell it out.
07:46 October 20, 2010 by Kevin Harris
Er, no one has answered my question yet. #4
11:59 October 20, 2010 by Åskar
To quote Ingemar Stenmark: "It's no use explaining to someone who doesn't understand".
17:01 October 20, 2010 by facetedjewel
Kevin,

Attempt to be more porous. 'Understanding' in Sweden often travels through osmosis . . . and the sound waves of grunts. You're getting a bit of the old that's-just-the-way-do-things-around-here, and they're pulling your pud for the fun of it. Good times.

Also, more than likely, they don't have an answer either.
Today's headlines
Florida 'mystery knight' dies in Sweden
Michael Boatwright (R) and Medieval knight re-enactors.

Florida 'mystery knight' dies in Sweden

The "motel mystery" American who baffled US authorities by only speaking Swedish when he woke up from a coma last year has passed away, Swedish media reported on Wednesday. READ () »

Swedes open coffin of 850-year-old king
Photo: Bertil Ericson/TT

Swedes open coffin of 850-year-old king

UPDATED: Scientists pried open the 850-year-old casket of King Erik the Holy on Wednesday, hoping to find out more about the king, his crown, and his eating habits. READ () »

TeliaSonera announces first-quarter profit drop
TeliaSonera CEO Johan Dennelind. File photo: TT

TeliaSonera announces first-quarter profit drop

Stockholm-listed telecom operator TeliaSonera on Wednesday said profits had fallen in the first quarter, but hoped offering customers more data solutions in the future would turn things around. READ () »

'Imperfect EU better than revolting nationalism'
Fredrik Reinfeldt. File photo: TT

'Imperfect EU better than revolting nationalism'

Swedish Prime Minister Fredrik Reinfeldt on Wednesday urged young voters to head to the European parliamentary polls on May 25th "to cure the European disease of nationalism". READ () »

Ericsson quarterly profit defies sluggish sales
Ericsson CEO Hans Vestberg at the first quarter press conference. Photo: TT

Ericsson quarterly profit defies sluggish sales

Swedish telecom giant Ericsson on Wednesday announced a drop in sales but posted a sharp rise in first-quarter profit, which nonetheless fell shy of analyst predictions. READ () »

Fatal Norrköping brawl
Four brothers held as cops fear brawl reprisals
Photo: Johan Nilsson/TT

Four brothers held as cops fear brawl reprisals

Swedish police fear that several people involved in a brawl in eastern Sweden on Monday night may be seeking revenge after two brothers were shot dead. READ () »

Sponsored Article
Beautiful pearls of southeast Sweden
The town of Västervik.

Beautiful pearls of southeast Sweden

Ask a Swede, and they are likely to say that their favourite holiday spot is in the southeast of Sweden. Eastern Småland and Öland offer a smörgåsbord of all the things dearest to the Swedes - from the beloved children's book author Astrid Lindgren to deep forests, long sandy beaches, perfect spots for that all-important 'fika', and a surprising amount of space, peace and quiet. READ () »

Weekend weather to bring summer warmth
Swedes enjoy hot dogs and cherry blossoms in Stockholm's Kungsträdgården. Photo: Jessica Gow/TT

Weekend weather to bring summer warmth

The sun is set to stick around and temperatures could climb into the twenties over the weekend, Swedish meteorologists said on Wednesday READ () »

'Day-care rapist' admits molesting eight kids

'Day-care rapist' admits molesting eight kids

A 21-year-old man confessed on Wednesday to sex crimes against eight children at a day care where he was working as an intern. READ () »

Swedish cops nab man for having big muscles
An unrelated bodybuilder. File photo: Ann Törnkvist

Swedish cops nab man for having big muscles

Police in Sweden's south who hauled a muscular man in for steroid testing have had their knuckles rapped, after it was ruled that big biceps cannot be grounds for narcotics suspicions. READ () »

RECEIVE OUR NEWSLETTER AND ALERTS
TT
Gallery
Inside the 850-year-old king's coffin
Features
Sponsored: South-eastern Sweden offers Öland beaches and more
Gallery
Swedish underwear shop puts staff in front of the camera
Gallery
IN PICTURES: The Local's Property of the Week - Täby
Sponsored: India+Sweden Week - India Unlimited
Features
Sponsored: India+Sweden Week - A film, food, and finance feast
National
University applications rocket to record high
finest.se
Gallery
People-watching April 18-20
TT
Society
Kids in Victorian garb mark Swedish Easter
Shutterstock
National
Swedish MP ordered chemtrail probe
Society
Swedish supermarket Ica pulls contested Easter commercial off air
Kungahuset
Society
Swedish royals set baptism date for princess
finest.se
Gallery
People-watching April 16
Advertisement:
Politics
Who's the prime minister's heir?
Alfie Atkins
Society
Are children's books the key to families integrating in Sweden?
National
'Sweden Dem protests cater to party's martyr image'
National
'Swedish research grants were fantastic, but now it's like Australia'
Society
Only in Sweden: The ten problems you'd never encounter elsewhere
National
Swedes stopped to take my picture, but didn't look me in the eyes
Business & Money
A swipe of the hand replaced cash and cards in Lund
YouTube
Features
Video: Oliver Gee finds out how to embrace The Swedish Hug
TT
National
Abba duo hints at reunion
Private
National
Flash mobs hug it out across Sweden
Finest.se
Gallery
People-watching April 11-13
Stockholm School of Economics
Sponsored Article
Why a bachelor's degree is no longer enough
Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Blog Update: The Diplomatic Dispatch

28 October 15:16

The Green Growth Group Summit »

"Today on the 28 October in Brussels, a large group of key EU Ministers and business people, including UK Secretary of State for Energy and Climate Change Edward Davey, and Swedish Environment Minister Lena Ek, will meet to discuss green growth. They all have a stake in resolving a challenge which, although it is crucial..." READ »

718
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com