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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 provides a detailed breakdown of Net Sales and EBITDA by region, followed by a justification for the EV/EBITDA multiples used in the valuation.",
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      "text": "We use a 3.5x 2015E EV/EBITDA multiple because there are limited bidders (possibly only one) for the Eurasia and Nepal assets and TeliaSonera has signaled it is a willing seller.",
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