Teliasonera: You Keep Me Hanging On

Investors and investment bankers are still waiting for the new centre-right Swedish government to deliver on its promised E22bn of privatisations. But the moment is getting closer. The government has just appointed two banks to advise on the sale of some of its 45% stake in Nordic telecoms group TeliaSonera. It’s a good time to sell. TeliaSonera’s shares have more than doubled since the 2002 trough and are selling at a small premium to the sector, in terms of its price-earnings ratio for 2007. ...