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ECONOMY

Sweden’s TV4 risks delisting as Schibsted ups stake

Norwegian media giant Schibsted looms large as a new threat to the Bonnier family’s power grip on TV4 after raising its stake in the TV company to 20.1 per cent Tuesday.

“The ownership of TV4 is a natural expansion of Schibted’s position in Sweden,” said Schibsted President Kjell Aamot after announcing that they had acquired another 15 per cent of TV4.

Schibsted’s coup titillated the market and shored up the TV4 share by 12 per cent.

At the same time, TV4 faces the risk of being delisted from the Stockholm Exchange since its main owners – Bonnier (21.7%), Alma Media (23.4%), Schibsted (20.1%) and MTG (15.1%) together control more than 75 per cent of the shares.

“They no longer meet the criteria [on spread of ownership],” said Anders Ackebo, head of company and share price supervision at the Stockholm Stock Exchange. He added they would contact TV4 for more information before deciding whether to place the company on the watch list.

Taxes up by SKr 34 billion

This year’s tax assessment rakes in an additional 34 billion kronor for the state coffers, reports DI, adding that it is mostly private persons that have contributed to the increase in taxes.

Corporate bigwigs to supervise new ethics code

A group of top business personalities headed by Nordea Chairman Hans Dahlborg will supervise the rules under the new code of business ethics and conduct for public companies. This is one of the new features in the revised proposal hammered out by Erik Åsbrink’s Commission on Business Confidence, which will be submitted to Justice Minister Thomas Bodström tomorrow. Dahlborg will head the staff that will include Kerstin Hessius of the Third AP Fund, Patrick Tigerschiöld of Skanditek and Lars-Erik Forsgårdh of the Swedish Association of Share Investors.

Burdarás ups stake in Carnegie

Icelandic investment group Burdarás has acquired another 2.1 per cent of the shares in Carnegie, raising its total holding in the Swedish investment banker to 20 per cent.

Sources: Dagens Nyheter, Svenska Dagbladet, Dagens Industri

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SAS

‘We agree to disagree’: Still no progress in marathon SAS strike talks

By lunchtime on Friday, talks between the Scandinavian airline SAS and unions representing striking pilots were still stuck on "difficult issues".

'We agree to disagree': Still no progress in marathon SAS strike talks

“We agree that we disagree,” Roger Klokset, from the Norwegian pilots’ union, said at lunchtime outside the headquarters of the Confederation of Swedish Enterprise in Stockholm, where talks are taking place. “We are still working to find a solution, and so long as there is still some point in continuing negotiations, we will do that.” 

Mats Ruland, a mediator for the Norwegian government, said that there were “still several difficult issues which need to be solved”. 

At 1pm on Friday, the two sides took a short break from the talks for lunch, after starting at 9am. On Thursday, they negotiated for 15 hours, breaking off at 1am on Friday morning. 

READ ALSO: What’s the latest on the SAS plane strike?

Marianne Hernæs, SAS’s negotiator on Friday told journalists she was tired after sitting at the negotiating table long into the night. 

“We need to find a model where we can meet in the middle and which can ensure that we pull in the income that we are dependent on,” she said. 

Klokset said that there was “a good atmosphere” in the talks, and that the unions were sticking together to represent their members.

“I think we’ve been extremely flexible so far. It’s ‘out of this world’,’ said Henrik Thyregod, with the Danish pilots’ union. 

“This could have been solved back in December if SAS had not made unreasonable demands on the pilots,” Klokset added. 

The strike, which is now in its 12th day, has cost SAS up to 130m kronor a day, with 2,550 flights cancelled by Thursday, affecting 270,000 passengers. 

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