Telia reports loss, Sonera returns to profitability as companies prepare to merge
Swedish telecoms operator Telia has reported a larger-than-expected loss for the third quarter due to larger-than-anticipated restructuring charges. The company is restructuring in preparation for its merger with Finland’s Sonera, focusing on its International carrier business and mobile and fixed-network operations in Denmark.
The restructuring costs led to a net loss of SKr10.1 billion for the third quarter, compared with a profit of SKr1.9 billion in the same period last year. Sales were up slightly to SKr14.5 billion from SKr14.43 billion. The company said that fourth quarter profits could be impacted by marketing activity costs.
Sonera has reported a profit of Euro 47 million for the third quarter, returning to profitability from a loss of Euro 325 million for the same period last year.
25-Oct-2002
