TeliaSonera’s
board reconfirmed its commitment to the company’s existing strategy during a
meeting held today. The board takes full responsibility for existing
and future investments, according to media reports. "The company plans to continue to be a leading player in
the Nordic and Baltic markets and strengthen its operations in Central Asia."
The
board has decided to tighten its risk management processes for major
investments in order to ensure that the strategy can be implemented in a manner
that is in line with the company’s code of ethics and conduct as well as UN and
OECD guidelines on corruption and human rights.
TeliaSonera’s
strategy means that the company does business in some of the world’s most
challenging markets when it comes to corruption and violations of human rights.
The importance of a zero tolerance across the entire organisation for
corruption and human rights abuses can therefore not be underestimated. The
board and management have recently announced significant new measures to
sharpen focus on these issues.
During
the rest of 2012, the board will work closely with former ambassador Tomas
Bertelman and devote its full energy to addressing the difficult tradeoffs
involved in conducting business in Central Asia. The starting point for this
work will be TeliaSonera’s own Code of Ethics and Conduct and the guidelines
drawn up by the UN and OECD. The board will also assist Mannheimer Swartling
and its managing partner Biorn Riese in the legal review he is conducting.
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