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  "documentTitle": "TeliaSonera AB (TLSN)",
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  "authorName": "Muddy Waters",
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  "presentationDate": "2015-10-15 00:00:00",
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  "notes": "The slide contains extensive footnotes documenting legal and investigative sources regarding the TeliaSonera-Takilant transactions.",
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      "kind": "paragraph",
      "text": "In back-to-back deals completed in December 2007, TeliaSonera “bought” 3G frequencies from someone acting as a representative for Karimova’s Takilant Limited for US $80 million.",
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      "text": "In June 2007, TeliaSonera announced its purchase of MCT, creating TeliaSonera Uzbek Telecom Holding B.V. TeliaSonera controlled 96% of the Uzbek subsidiary, with the remaining 6% being held by Takilant Limited.",
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      "text": "In September 2008, TeliaSonera bought “numbering blocks” and a network code (i.e., blocks of phone numbers) from Takilant for $9.2m.",
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      "text": "In December of 2007, TeliaSonera sold Takilant a 26 percent interest in TeliaSonera Uzbek Telecom Holding B.V. for US $50 million including a put option that would be exercised just over two years later. Karimova is believed to have netted $30 million for selling government licenses.",
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      "text": "In February 2010, Takilant sold 20 percent out its 26 percent stake in TeliaSonera Uzbek Telecom Holding back to TeliaSonera for $220m.",
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      "text": "När priset fastställdes till USD 220 miljoner innebar detta dock ett högre pris än vad skulle gällt enbart enligt prismodellen i Aktieägaravtalet. Enligt uppgift uppfattades prismodellen mer som en referenspunkt när transaktionen förhandlades ... Den framtida värdeutvecklingen på Coscom bedömdes också vara mycket positiv. Det högre priset jämfört med en tillämpning av prismodellen i Aktieägaravtalet motiverades också av att Takilant inte var tvingat att sälja aktierna samtidigt som TeliaSonera, mot — Mannheimer Swartling report",
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      "text": "Extensive footnotes 41-46 detailing legal proceedings, court documents, and investigative reports.",
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