TeliaSonera flags up USD275m one-off hit, mainly on Eurasia

19 Jan 2015

Swedish group TeliaSonera has disclosed that its Q4 2014 financial results will be impacted by non-recurring items of SEK2.232 billion (USD275.3 million), of which a net SEK1.973 billion relate to non-cash items. As reported by TelecomLead, TeliaSonera will record SEK1.465 billion non-cash impairment charges related to goodwill and other fixed assets in Tajikistan, Georgia and Moldova, largely due to economic uncertainty in its Eurasian divisions. It will also book a non-cash impairment charge of SEK381 million due to WiMAX operations acquired in Kazakhstan in January 2013; TeliaSonera wrote down the value of frequencies related to this operation in 2013, and it will write down goodwill and remaining fixed assets at the end of 2014 due to absence of a 4G licence and to reflect the operational performance in the WiMAX business. Also, following TeliaSonera’s adoption of a convergent IT strategy, obsolete systems and platforms with a book value of SEK270 million will be written down. Other non-recurring costs related to redundancies as well as network dismantling in Denmark come to SEK116 million.

Sweden, Tele2-Altel (Mobile Telecom Service), Telia Company