• 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

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)

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
Analysis
Sweden Democrat threats 'just a show'
Sweden Democrat leader Jimmie Åkesson. Photo: TT

Sweden Democrat threats 'just a show'

There is talk that the nationalist Sweden Democrats could trigger a fresh election, by rejecting the new coalition's budget. But leading Political Scientist Li Bennich Björkman tells The Local that the party is just game-playing and should be focusing on getting its 'exhausted' leader back. READ  

Science
Astronaut helps launch first student satellite
Christer Fuglesang on a previous space mission. Photo: TT

Astronaut helps launch first student satellite

Sweden's debut astronaut Christer Fuglesang is helping students at KTH Royal Institute of Technology to become the first in the country to make their own satellite and send it into space. READ  

New coalition
New coalition reveals 'compromise' budget
Prime Minister Stefan Löfven and Green Party leader Åsa Romson. Photo: TT

New coalition reveals 'compromise' budget

UPDATED: Prime Minister Stefan Löfven's Social Democrat-led coalition has revealed its first budget proposal, listing plans to spend more than 20 billion kronor. READ  

Weather
Sweden braces for ten centimetres of snow
Kiruna, in far northern Sweden, has already been hit by snow this season. Photo: TT

Sweden braces for ten centimetres of snow

Sweden's weather agency has warned that up to ten centimetres of snow are on the way for Sweden. READ  

Business and Money
Global profit boost for Handelsbanken
Handelsbanken is Sweden's second largest bank. Photo: Bertil Eriksson/TT

Global profit boost for Handelsbanken

Sweden's second-largest bank, Handelsbanken, has reported a rise in third-quarter profits, boosted by higher income from its loan book as it continues its expansion overseas. READ  

Stockholm 'sub hunt'
Sweden pulls back 'submarine' search
Navy vessels remain in the archipelago. Photo: Lars Pehrson/TT

Sweden pulls back 'submarine' search

Sweden is pulling back part of the naval operation which has been searching for a suspected Russian submarine off the coast of Stockholm for nearly a week. READ  

Julian Assange
Assange prepares for court ruling in Sweden
Julian Assange at Ecuador's embassy in the UK. Photo: Anthony Devlin

Assange prepares for court ruling in Sweden

WikiLeaks founder Julian Assange says he is "confident" his asylum status will be resolved, as he awaits an imminent ruling on his case by a Swedish court. READ  

Opinion
'Why were we kept in the dark for years?'
The submarine hunt is now in it's sixth day. Photo: TT

'Why were we kept in the dark for years?'

Military expert Johanne Hildebrandt tells The Local that the biggest question in the Stockholm submarine hunt hasn't been answered yet - why don't we know more about the "other operations" from the last few years? READ  

The Local List
Eight things to love about renting in Sweden
Apartments in Sweden are compact. Photo: Shutterstock

Eight things to love about renting in Sweden

A housing crisis means that short-term sublets are the norm in major cities and rent regulation rules are frequently flouted. But this week, The Local's decided to look on the bright side of renting an apartment in Sweden. READ  

Business & Money
Nordea banks big third-quarter profit gain
Nordea's Chief Executive Christian Clausen. Photo: TT

Nordea banks big third-quarter profit gain

Swedish bank Nordea announced on Wednesday a sharp rise in third quarter profits despite the economic slowdown and major outlays for an IT overhaul. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Lifestyle
Eight things to love about renting a Swedish apartment
National
Vasa ship cannon blasted in Sweden
National
Sub hunt: Day-by-day
National
Sub hunt: Stockholm islanders share their fears with The Local
Sponsored Article
The best options for oversea transfers
Blog updates

21 October

Denna & den här (The Swedish Teacher) »

"?Denna? or ?den hr?? Swedish language students often ask question about different pronouns. One pronoun that especially..." READ »

 

19 October

Getting it (Blogweiser) »

"Follow Joel Sherwood on FB Few watch baseball in Sweden. This is excellent when your team loses..." READ »

 
 
 
National
Get 20% off unique Swedish homeware
National
Dentist gives free care to Roma beggars
Business & Money
Get your own office in Gothenburg or Stockholm - free for a day
Gallery
Property of the week: Malmö
Gallery
PHOTOS: 'Foreign activity' in Swedish waters
Gallery
People-watching: October 19th
TT
Society
QUIZ: How good is your Swedish?
Lifestyle
What's on in Sweden: October 17th - 24th
Society
The nudity... and nine other things expat men notice in Sweden
Gallery
People-watching: October 15th
Gallery
Your views: Should outdoor smoking be banned in Sweden?
Business & Money
Sweden has 'large hole' in finances
Sponsored Article
Introducing... Finding a job in Stockholm
Society
Monster salmon caught in northern Sweden
Gallery
Property of the week: Lorensberg
National
Scandinavia's child bride
National
Ebola crisis: How is Sweden preparing?
Business & Money
How Sweden is becoming a cashless society
Gallery
Stockholm Burlesque Festival 2014
National
How a little red horse became a symbol for Sweden
Gallery
People-watching: October 12th
Business & Money
The hottest start-ups from southern Sweden
National
What's on in Sweden: October 10th - 17th
National
Stockholm is 'best' region for well-being
Gallery
People-watching: October 8th
National
Five facts to know about Patrick Modiano
Society
My Swedish Career: A French fashionista in Sweden
Society
Swede's anti-bully Facebook tale goes viral
Society
Have you seen Sweden's viral subway cancer campaign?
National
Isis: Swedes linked to Turkish prisoner swap
National
Should Swedes be banned from buying sex abroad?
Gallery
Fredrik Reinfeldt's leaving presents
National
Five Swedish TV shows you shouldn't miss
Gallery
A tool belt, a casserole, and a book. Fredrik Reinfeldt's parliament gifts
TT
Lifestyle
Top five winter festivals in Sweden
TT
National
Sami reindeer herders win mine reprieve
Gallery
Property of the Week: Gamla Enskede
Sponsored Article
How to catch the first lobster of the year
Politics
Ten new minister faces you should know
Tech
First womb transplant baby in world born in Sweden
Gallery
People-watching: October 5th
Team SCA
Sponsored Article
All-female SCA team takes off on Volvo Ocean Race
Latest news from The Local in Austria

More news from Austria at thelocal.at

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 Denmark

More news from Denmark at thelocal.dk

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

979
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
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at:
http://psdmedia.se
If you want to drink, that’s your business.
If you want to stop, we can help.

Learn more about English-language Alcoholics Anonymous in Sweden. No dues. No fees. Confidentiality assured.
AA-EUROPE.ORG/SWEDEN