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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 text discusses corruption allegations involving TeliaSonera, citing specific financial figures and contrasting executive statements with external perspectives on crisis management.",
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      "text": "One possible reason why you have not been more realistic in your public assessments of TeliaSonera’s corrupt actions is that you understand that the scale of corruption is jaw-dropping, but you have a misguided belief that the best course of action is to say as little as possible publicly (and possibly to regulators).",
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      "text": "Uzbekistan, which has patterns that repeat in the other countries. Appendix B lists potentially corrupt payments we have identified, which total SEK 17 billion (US$2.1 billion), plus a contingent obligation to make a potentially corrupt additional payment of SEK 7.6 billion (US$934.5 million).",
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      "text": "One possible reason why you have not been more realistic in your public assessments of TeliaSonera’s corrupt actions is that you understand that the scale of corruption is jaw-dropping, but you have a misguided belief that the best course of action is to say as little as possible publicly (and possibly to regulators). That might make sense when dealing with a problem, but it often backfires when dealing with a crisis. Telia is in crisis.",
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      "text": "When asked directly whether TeliaSonera bribed Aliyev’s regime [in Azerbaijan], Dennelind told OCCRP, “We cannot prove it. But we cannot rule it out.”",
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      "text": "Lord Browne, the former CEO of British Petroleum, stated in an October 7th BBC podcast (on Volkswagen’s ability to manage its current crisis) that in a crisis situation such as BP’s Gulf of Mexico spill (or TeliaSonera’s corruption coming to light), company attorneys tend to counsel publicly disclosing as little as possible. Those concerned with liability and mitigation can impede these efforts and oftentimes fail in their goal. Lord Browne counsels passing judgment as a",
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      "text": "Ms. Ehrling, CEO Dennelind, and TeliaSonera corporate publications have greatly downplayed the extent of the company’s corruption issues, including the following:",
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      "text": "We have been as open as we believe is possible. There are many factors we need to take into account in order to act wisely and constructively,” said Ehrling. “Among other things, we should not obstruct the prosecutor's work, but it is also about how we deal with individuals inside and outside the company. We can’t go out and accuse various people of this and that without solid proof...There are several countries that we have investigated and presented in the report that is on our website, and that anyone can read. It says that there was a pattern in how the transactions were carried out, which we would not have [given support to] today.",
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      "text": "Within TeliaSonera there has been a pattern of inadequately conducting transactions and dealings. Historically, it concerns; Substantial payments to advisers and intermediaries for, among other things, lobbying activities; lack of control of business partners; and inadequate handling of warning signs.",
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      "text": "\"We cannot prove it. But we cannot rule it out.\" — CEO Dennelind (to OCCRP). \"We have been as open as we believe is possible. There are many factors we need to take into account in order to act wisely and constructively,\" — Ms. Ehrling. \"In a crisis situation such as BP’s Gulf of Mexico spill (or TeliaSonera’s corruption coming to light), company attorneys tend to counsel publicly disclosing as little as possible.\" — Lord Browne.",
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      "text": "6 https://www.occrp.org/en/announcements/3985-occrp-global-reporters-release-first-khadija-project-stories\n7 https://www.occrp.org/en/daily/3987-teliasonera-dismisses-demands-for-greater-transparency-amid-azerbaijan-bribe-storm",
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