Telecom service provider TeliaSonera on Friday said it will take a hit of SEK 850 million in the third quarter due to a non-recurring cost.
TeliaSonera has settled its obligations regarding existing lease agreements in Farsta, Stockholm in order to move to new premises in Solna in 2016.
TeliaSonera will pay a total compensation of SEK 247 million divided into three payments during 2014, 2015 and 2016 respectively. The full amount will be reported as a non-recurring cost in the third quarter of 2014.
TeliaSonera commissioned an external advisor to assess part of the balance sheet, primarily the value of assets under construction and inventory in its Eurasian business units. As a result of the audit, TeliaSonera reports non-recurring costs in Eurasia of approximately SEK 600 million in the third quarter of 2014. The write-down has no cash impact.
TeliaSonera reported costs in Eurasia of SEK 412 million as non-recurring items in Q3.
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