TeliaSonera Shares Sale Cancelled by Swedish Government
Published on: 20th Mar 2011
Note -- this news article is more than a year old.
Opposition politicians in Sweden have blocked plans by the minority government to sell stakes in state owned companies, including the government held stake in TeliaSonera. The government lost the vote 172 170 with seven members declining to vote in the debate.
The government had also planned the sales of stakes in mortgage lender SBAB, postal service company Posten Norden and utility Vattenfall - but lost its working majority in the Parliament in last September's elections.
The government recently raised USD3 billion from the sale of a third of its 19.8 percent stake in Nordea Bank, and was expected to raise a further US$15 billion from selling stakes in the other companies.
The Swedish government owned 37.3 percent of TeliaSonera at the end of last year, according to the figures on their website. The Finnish government also owns a 13.7 percent stake in the company, with the rest floated on the stock exchange.