TeliaSonera's board reconfirms Group strategy

TeliaSonera’s board reconfirmed its commitment to the company’s existing strategy during a meeting held today. The board takes full responsibility for existing and future investments, according to media reports. "The company plans to continue to be a leading player in the Nordic and Baltic markets and strengthen its operations in Central Asia."

The board has decided to tighten its risk management processes for major investments in order to ensure that the strategy can be implemented in a manner that is in line with the company’s code of ethics and conduct as well as UN and OECD guidelines on corruption and human rights.

TeliaSonera’s strategy means that the company does business in some of the world’s most challenging markets when it comes to corruption and violations of human rights. The importance of a zero tolerance across the entire organisation for corruption and human rights abuses can therefore not be underestimated. The board and management have recently announced significant new measures to sharpen focus on these issues.

During the rest of 2012, the board will work closely with former ambassador Tomas Bertelman and devote its full energy to addressing the difficult tradeoffs involved in conducting business in Central Asia. The starting point for this work will be TeliaSonera’s own Code of Ethics and Conduct and the guidelines drawn up by the UN and OECD. The board will also assist Mannheimer Swartling and its managing partner Biorn Riese in the legal review he is conducting.