Telia Co AB

Telia Company provides telecommunication services in the Nordic and Baltic countries, the markets of Eurasia, including Russia, Turkey and Spain. Co. has three business segments: Mobility Services, which comprises operations in Sweden, Finland, Norway, Denmark, Lithuania, Latvia, Estonia and Spain; Broadband Services, which comprises operations in Sweden, Finland, Denmark, Lithuania, Latvia (49.0%), Estonia and international carrier operations; and Eurasia, which comprises mobile operations in Kazakhstan, Azerbaijan, Uzbekistan, Tajikistan, Georgia, Moldova and Nepal. The business area also includes Co.'s shareholdings in OAO MegaFon, Russia and Turkcell Iletisim Hizmetleri A.S., Turkey.
  • TickerTELIA
  • ISINSE0000667925
  • ExchangeNasdaq Nordic Stockholm
  • SectorMobile Telecommunications
  • CountrySweden
Håkon Astrup ...
  • Jon Masdal
  • Martin Arnell
  • Martin Huseby Karlsen
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Anders Idborg ...
  • Erik Moberg
  • Haakon Amundsen
  • Karl Bokvist
  • Mads Thinggaard
  • Peter Kurt Nielsen
  • Tobias Kaj
  • Victor Forssell

Talking Points - FLSmidth (Hold): No longer deep value, down to HOLD

Retail: SWE food retail (sector report): slower momentum ahead Expect orders -22%, margin 3.1% (8.9%) Execution remains a question mark, down to HOLD

Peter Kurt Nielsen

Telia Company - Q2’20 preview

Telco business to remain resilient No new guidance or targets to be issued at Q2 results Q2 not a catalyst, but we remain positive – BUY

Stefan Gauffin

Telia Company (Buy, TP: SEK39.00) - Ms Kirkby’s debut

Q2 was CEO Ms Kirkby’s first quarter (results due at 07:00 CET on 17 July), so there is a chance of new long-term financial targets but in our view more likely only full-year targets. We are roughly in line with consensus on Q2 sales and EBITDA. We reiterate our BUY and SEK39 target price.

Peter Kurt Nielsen

Telia Company - Turkcell exit looming at last

Telia in discussions to sell 47% stake in Turkcell Holding SEK 5.0bn proceeds would equal SEK 1.2bn per share Painful but necessary decision welcomed. BUY

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Global indexes approaching major resistance Broad global indexes are bumping up against logical downtrend resistance. As a result, our outlook remains cautious and our baseline expectation for continued downward pressure on global equities remains intact. At the same time, we are seeing signs that the worst of the declines may be behind us as global cyclical Sectors show RS improvements while defensive Sectors display early signs of RS deterioration. • Regional/Country Overview. The U.S., Europe, and Japan all remain in downtrends from a price perspective, though major resistance levels are...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Our outlook remains neutral - bordering on cautious - on the MSCI ACWI ex-U.S. index (local currency) on an absolute basis with horizontal support continuing to hold for now. Our concern stems from the recent pattern of lower highs and continued underperformance relative to MSCI ACWI - remain underweight... see chart below. • Bullish developments in Japan. We have been fairly downbeat recently on Japan given the TOPIX's descending triangle pattern and underperformance relative to the MSCI ACWI. However, both the TOPIX and Nikkei 225 now exhibit bullish price and RS inflections. Add exposure.....

Telia Company AB: 1 director bought

A director at Telia Company AB bought 10,000 shares at 33.250SEK and the significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of b...

Anders Idborg ...
  • Erik Moberg
  • Haakon Amundsen
  • Karl Bokvist
  • Mads Thinggaard
  • Peter Kurt Nielsen
  • Tobias Kaj
  • Victor Forssell

Talking Points - FLSmidth (Hold): No longer deep value, down to HOLD

Retail: SWE food retail (sector report): slower momentum ahead Expect orders -22%, margin 3.1% (8.9%) Execution remains a question mark, down to HOLD

Peter Kurt Nielsen

Telia Company - Q2’20 preview

Telco business to remain resilient No new guidance or targets to be issued at Q2 results Q2 not a catalyst, but we remain positive – BUY

Stefan Gauffin

Telia Company (Buy, TP: SEK39.00) - Ms Kirkby’s debut

Q2 was CEO Ms Kirkby’s first quarter (results due at 07:00 CET on 17 July), so there is a chance of new long-term financial targets but in our view more likely only full-year targets. We are roughly in line with consensus on Q2 sales and EBITDA. We reiterate our BUY and SEK39 target price.

Peter Kurt Nielsen

Telia Company - Turkcell exit looming at last

Telia in discussions to sell 47% stake in Turkcell Holding SEK 5.0bn proceeds would equal SEK 1.2bn per share Painful but necessary decision welcomed. BUY

Peter Kurt Nielsen

Sector Fast Comment - Finland: 5G spectrum auction completed

Elisa, Telia and DNA (Telenor) each acquire 5G spectrum 26GHz spectrum acquired at reserve (minimum) prices Highlights attractiveness of Finnish market

ING
Hendrik Wiersma

Telia/Share buyback cancelled; TELIAS3.875 10/25 favoured, while long-end is expensive

Telia released a satisfactory set of 3Q19 results and cancelled the remaining part of its three year share buyback programme. Although the elimination of the remaining part of the share buyback is positive for bondholders, the top-line performance is still weak. We continue to prefer the TELIAS3.875 10/25 on the curve, which offers a pick-up in ASW versus Vodafone. We view the long-end of the curve as expensive.

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/UBS, key bank calls, Telia and Vodafone

UBS (UBS) highlighted yesterday that the first quarter of 2019 has been one of the worst in recent history for investment banking, lacking signs of any elements of positive seasonality. Moreover the bank indicated to expect its investment banking revenues to decline by about a third from a year ago. UBS is not likely to be the only one suffering from the poor market backdrop and we expect European banks across the board with similar activities to have faced the same market malaise resulting in higher likelihood of sluggish bank earnings again for 1Q.

ING
Hendrik Wiersma

Telia/Bonds fairly valued

Telia released 3Q18 numbers this morning. The company slightly increased its EBITDA guidance for the full year. Most Telia bonds now trade slightly inside Vodafone in maturities up to 10 years and therefore we view them as fairly valued. With the company's re-leveraging profile priced in, we don't see significant downside at this stage. The company's longer-dated bonds continue to trade expensively.

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Casino and Telia

Casino (COFP) published its 3Q18 sales update yesterday after market close, which we view as a small negative for spreads. Total sales came in at €8,922m (Bloomberg consensus: €8.98bn) with LFL growth of 3.3%, only a minor uptick compared to the previous quarter (+3.2%) but stronger than the 2.2% LFL growth achieved in 3Q17. Reported sales fell 2.4% due to a currency headwind of 7.6%. France Retail generated LFL growth of 1.9%, a touch ahead of consensus of +1.6% with sales of €4.83bn in line. Growth accelerated most for Convenience/other, which saw LFL growth pick up from +0.7% in 2Q18 to +3....

ING
Hendrik Wiersma

Telia/Re-leveraging largely priced in

The intended acquisitions of Bonnier Broadcasting and TDC's Norwegian operations will increase Telia's net debt/EBITDA ratio by c.0.9x on a pro-forma basis. The company's shareholder remuneration commitments will put slight additional pressure on the company's credit metrics. However, with the phasing of the closing of the transactions and with no large scale M&A on the agenda we see limited downside potential for most of Telia's bonds with maturities up to 10 years and believe that the company's re-leveraging is largely priced in. The company's net debt/adjusted EBITDA ratio target of 2x, +/-...

Håkon Astrup ...
  • Jon Masdal
  • Martin Arnell
  • Martin Huseby Karlsen
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Alexander Aukner ...
  • Joachim Gunell
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin

Northern Lights

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Jimi Lehtonen
  • Joachim Gunell
  • Martin Arnell
  • Nicolai Farstad Olsen
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

Christoffer Wang Bjørnsen ...
  • Frank Maaø
  • Håkon Astrup
  • Jimi Lehtonen
  • Martin Arnell
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Stefan Gauffin
  • Viktor Trollsten

Northern Lights

Alexander Aukner ...
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Stefan Gauffin

Northern Lights

TELIA COMPANY AB suffers a double requalification, which weighs heavily on its rating, now at Neutral.

The independent financial analyst theScreener just downgraded the general evaluation of TELIA COMPANY AB (SE), active in the Mobile Telecommunications industry. As regards its fundamental valuation, the title loses a star(s) and now shows 1 out of 4 stars. Its market behaviour is also negatively reassessed and may be considered as moderately risky. theScreener believes that this double requalification keeps the title under pressure and justifies an overall rating downgrade to Neutral. As of the analysis date June 12, 2020, the closing price was SEK 31.66 and its target price was estimated at S...

Increased risk weighs on TELIA COMPANY AB, penalising its rating down to Neutral

The independent financial analyst theScreener just lowered the general evaluation of TELIA COMPANY AB (FI), active in the Mobile Telecommunications industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as moderately risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Neutral. As of the analysis date May 19, 2020, the closing price was EUR 3.00 and its target price was estimated at EUR 2.70.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Telia Company – AGM 02 April 2020

In general, Telia Company is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting.   Under ITEMS 12.1-12.9, the (re-)election of the board of directors is proposed.   In view of concerns over aggregate time commitments as well as other concerns, ECGS recommends to vote OPPOSE to the (re-)election of: Mr. Rickard Gustafson (ITEM 12.1), Mr. Lars-Johan Jarnheimer (ITEM 12.2), Mr. Olaf Swantee (ITEM 12.6) and proposed new nominees Mmes. Ingrid Bonde (ITEM 12.8) and Jeanette Jäger (ITEM 12.9).   Under ITEM 13.1 the nomination com...

Expert Corporate Governance Service (ECGS)

Telia Company - EGM 26 November 2019

On October 20, 2019, the board of directors of Telia Company received a request from its major shareholder, the Swedish state, to call for an EGM regarding the election of a new board member and board chair that will take over from the current chair Ms. Marie Ehrling. The nomination committee has endeavoured to find a chair who, with a strong commercial drive and experience from the telecommunications sector, can lead the work of the board of directors. Taking into account the competencies and experiences needed in the future, the owner representatives of the nomination committee have decided...

Expert Corporate Governance Service (ECGS)

Telia Company April 10th, 2019

In general, Telia Company ("Telia") is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEMS 12.1-12.8, the (re-)election of the board of directors is proposed.  Under ITEM 12.2, the nomination committee proposed to newly appoint Mr. Rickard Gustafson as Member of the board of directors. In view of concerns over aggregate time commitments, ECGS recommends to vote OPPOSE. Under ITEM 12.3, the nomination committee proposes to re-appoint Mr. Olli-Pekka Kallasvuo as Member of the board of directors. ECGS is not in favour...

Telia Company – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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