Telia divesting unprofitable operations

Telia divesting unprofitable operations As a part of the Telia Group's refine and focus strategy, additional operations are planned for divestiture, including the American Internet operator Telia Internet Inc. (TII). In preparation for the divestitures, Telia will make a special one-time provision during the third quarter, estimated at MSEK 800. During the first six months of 2001, Telia Internet Inc. showed a loss of MSEK -187 in underlying EBITDA and MSEK -240 in operating income, while sales totaled MSEK 37. In preparation for the divestiture, the company has been transferred from the business area Telia International Carrier to the business area Telia Equity. Telia is expected to report capital gains totaling MSEK 3,200 during the third quarter, of which MSEK 2,700 is attributable to the sale of 40 million shares in the associated company Eniro AB, and MSEK 500 is attributable to the sale of Telia's properties in Farsta. Adjusting for the provision of MSEK 800, the non-recurring items known to date are expected to total MSEK 2,400 during the third quarter. For further information journalists can contact: Eva Lindqvist, Head of Telia Equity, via Telia's Press Office, +46 8 713 58 30 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/09/17/20010917BIT00910/bit0001.doc http://www.waymaker.net/bitonline/2001/09/17/20010917BIT00910/bit0001.pdf