Gardell: Telia shares “well overpriced” despite the downturn – Swedish Dagbladet

Christer Gardell fund Cevian went into Telia in 2006 and was for some years one of the largest shareholders. Photo: Magnus Hjalmarsson Neideman William Stokstad / TT

– We always look at all the companies in crisis or adversity. After the quick look we did on TeliaSonera we came, however, until the stock is well overpriced, despite the downturn, says Christer Gardell SvD Business.

It was at the seminar Smart Call in Stockholm on Friday that Gardell was asked if he was interested in going into Telia. Just Telia is a company Gardell know well. Cevian entered the company in 2006 and was for some years one of the largest shareholders. Together with the Swedish government ran Cevian out large bonuses from the company and at the same time drove the owners through major cost reduction program.

The investment became profitable for Telia and according to previous calculations of SvD so appreciated Christer Gardell and Cevian have earned around 2 billion crowns at Telia. The share, which went up today after the report, is still trading under $ 40, ie around the levels Christer Gardell, the summer of 2006, purchased a share of Telia.

Then, in 2006, there were several advantages of investing in Telia, except that the company had many billion at the box office, there were major costs saving and the now troubled business area Eurasia showed strong growth. Today, Telia is completely different, says Gardell.

Telia’s slide in the stock market related to the company’s announcement that it will provide one of its largest business areas, the emerging markets of Eurasia. MDJohan Denenlind explained sortin that it was time to hand over to the other new owners in Eurasia. SvD Business, however, has revealed that Telia’s problems in Eurasia with corruption is still large. Last fall had then head of the business area, stop and yesterday confirmed Telia SvD’s previous record of him leaving the company completely.

Telia will now concentrate on its core Nordic and Baltic countries . Competition is tough and aktieägaran can not count on the same profits as before from Telia’s operations.