C4. Changes in group composition and events after the reporting period

Group composition

Subsidiaries

Telia Company’s principal operating subsidiaries as of December 31, 2016, are disclosed in Our market position. Ownership in addition to shares held directly or indirectly by Telia­ Company takes into account shares held by associated companies. Consolidated share also includes commitments to acquire shares from holders of non-controlling interests. Subsidiaries in continuing operations with material non-controlling interests are disclosed in Note C19 “Equity and earnings per share.” Subsidiaries in discontinued operations with material non-controlling interests are described in Note C34 “Discontinued operations and assets classified as held for sale.”

Associated companies

Material associated companies are disclosed in Note C14 “Investments in associated companies and joint ventures.”

Joint arrangements

Telia Company owns three joint arrangements that are classified as joint operations, Svenska UMTS-nät AB (SUNAB) in Sweden, TT-Netværket P/S (TT) in Denmark and Suomen Yhteisverkko Oy in Finland. The companies are network-sharing operations with Tele2 (SUNAB), Telenor (TT) and DNA (Suomen Yhteisverkko). Telia Company holds 50 percent of the shares in both SUNAB and TT. Telia Company owns 51 percent of the shares in Suomen Yhteisverkko, but based on the shareholders agreement the company is jointly controlled and equally governed by the consensus principle.

Business combinations

There have been no material business combinations during 2016. See Note C33 “Business combinations” for further information on other minor business combinations and business combinations after the reporting period.

Disposals

On April 11 2016, Telia Company completed the divestment of its holdings i Ncell in Nepal. On October 5 2016, Telia Company divestet all its holdings in the Spanish ­operator Yoigo. For more information see Note C34 “Discontinued operations and assets classified as held for sale”.

Events after the reporting period

No events occurred after the reporting period that will have any material effect on the financial statements of the Telia Company group.