On March 29, 2017, Telia Company announced that it had issued hybrid bonds in three separate tranches in EUR and SEK with a total amount of around SEK 15 billion. The hybrid was recognized at the beginning of April 2017.
As per March 31, 2017, Telia Company, after constructive discussions with the government agencies, revised the estimate of the most likely outcome and the provision for settlement amount proposed by the US and Dutch authorities was adjusted from USD 1.45 billion to USD 1.0 billion (SEK 8.9 billion).
On July 14, 2017, Telia Company announced that the Interim Report January – June would include significant items that in total had a negative impact of SEK 1.2 billion on Operating income in continuing operations and a negative impact of SEK 2.0 billion on Net income in discontinued operations in the second quarter of 2017. The cash flow effect was SEK 6.3 billion for continuing operations while there was no cash flow effect within discontinued operations.
On September 21, 2017, Telia Company announced that a global settlement had been reached with the US Department of Justice (DoJ), Securities and Exchange Commission (SEC) and the Dutch Public Prosecution Service (Openbaar Ministerie, OM) relating to previously disclosed investigations regarding historical transactions in Uzbekistan. Telia Company agreed to a total financial sanction of USD 965 million. The global resolution brings an end to all known corruption related investigations or inquiries into Telia Company.
On September 22, 2017, Telia Company announced that, according to information from the Swedish Prosecution Authority, it has decided to prosecute a number of former Telia employees. The authority also decided to initiate legal proceedings against Telia Company for a disgorgement. This amount is already included in the global settlement that Telia Company has reached with US and Dutch authorities.
For information on acquired and disposed subsidiaries, see section Acquisitions and Disposals.
Board of Directors and Group Executive Management
On December 14, 2016, Telia Company announced organizational changes in Group Executive Management as of January 1, 2017. Since then the Group Executive Management consists of: The Chief Executive Officer, Chief Financial Officer, General Counsel, Head of Group People and Brand, Head of Group Communications, Head of Global Services & Operations, Head of CEO Office, Strategy & Combined Assurance, Head of Telia Sweden, Head of Telia Norway, Head of Telia Finland and Head of Cluster (LED - Lithuania, Estonia and Denmark).
On April 5, 2017, Telia Company held its Annual General Meeting and announced that the ordinary members of the Board Susanna Campbell, Marie Ehrling, Olli-Pekka Kallasvuo, Mikko Kosonen, Nina Linander, Martin Lorentzon, Anna Settman and Olaf Swantee were re-elected members to the Board. Marie Ehrling was elected Chair of the Board and Olli-Pekka Kallasvuo was elected Vice-Chair of the Board.
On December 15, 2017, Telia Company announced that Robert Andersson Senior Vice President and Head of Corporate Holdings and member of Group Executive Management, would leave Telia Company.
On March 29, 2017, Telia Company announced that it had issued hybrid bonds with a total amount of SEK 15 billion. The hybrid bonds are nominated in a EUR tranche (EUR 900 million) and two SEK tranches (SEK 6.5 billion).
On May 2, 2017, Telia Company acquried 108,101 own shares at an average price of SEK 36.1906 to cover commitments under the ”Long Term Incentive Program 2014/2017”. During the second quarter of 2017, Telia Company distributed 108,101 shares to the incentive program participants. As of December 31, 2017, no Telia Company shares were held by the company itself or by its subsidiaries. The total number of issued and outstanding shares were 4,330,084,781.