Sweden-based Telia Company has reported net sales of SEK84.178 billion (USD9.534 billion) for the twelve months ended 31 December 2016, down 2.7% from SEK86.498 billion in 2015. EBITDA for the period under review rose 2.2% on an annual basis, from SEK25.281 billion to SEK25.836 billion, while Telia’s total net income dropped 36.3% from SEK10.205 billion in 2015 to SEK6.496 billion in 2016. The company stated that the drop was ‘mainly due to provision for settlement amount proposed by the US and Dutch authorities’; in September 2016 the aforementioned authorities proposed a USD1.4 billion fine to settle allegations that the telco paid bribes to win business in Uzbekistan back in 2007.
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