Financial items, taxes and net income

Financial items totaled SEK -4,234 million (-1,841) primarily negatively affected by decreased interest net due to bond buy-back transactions and a capital loss from the disposal of the 19.0 percent holding in MegaFon classified as a financial asset prior the disposal.

Income taxes amounted to SEK -1,041 million (-2,816). The effective tax rate was 11.0 percent (14.6). The decrease is related to non-taxable capital gains from the disposals of Sergel and MegaFon and reversal of withholding tax provisions for Turkcell and MegaFon. The decrease is partly offset by a non-deductible capital loss from the disposals of shares in Turkcell.

Total net income rose to SEK 10,146 million (6,496), of which SEK 8,416 million (16,433) in continuing operations and SEK 1,729 million (-9,937) in discontinued operations. Total earnings per share rose to SEK 2.22 (0.86).