English Svenska Download center Contact Our Company Directors' Report Governance Sustainability Work Financial Statements GRI Index Other Directors' Report > Risks and uncertainties RISKS AND UNCERTAINTIES TeliaSonera operates in a broad range of geographical product and service markets in the highly competitive and regulated telecommunications industry. As a result, TeliaSonera is subject to a variety of risks and uncertainties. TeliaSonera has defined risk as anything that could have a material adverse effect on the achievement of TeliaSonera’s goals. Risks can be threats, uncertainties or lost opportunities relating to TeliaSonera’s current or future operations or activities. TeliaSonera has an established risk management framework in place to regularly identify, analyze, assess, and report business, financial as well as ethics and sustainability related risks and uncertainties, and to mitigate such risks when appropriate. Risk management is an integrated part of TeliaSonera’s business planning process and monitoring of business performance. Set forth below is a description of factors that may affect TeliaSonera’s business, brand perception, financial position, results of operations or the share price from time to time. For information on risk management, control environment and ongoing activities, see the Corporate Governance Statement and Sustainability Work. TeliaSonera is also exposed to financial risks such as credit risk arising from default of counterparties, liquidity risk arising from its own default in meeting obligations associated with financial liabilities, currency risk arising from unfavorable foreign exchange rate fluctuations, interest rate risk arising from unfavorable interest rate changes, financing risk and pension obligation risk. Failure by TeliaSonera to effectively manage and hedge these financial risks would have a negative impact on its financial position, results of operations and cash flows. Information on financial risk management is presented in Note C26 to the consolidated financial statements. Read more about the following risks and uncertainties: Industry and market conditions Operations and strategic activities Associated companies and joint operations Sustainability Owning TeliaSonera shares Board of Directors’ Report Group development in 2015 Financial position, capital resources and liquidity Outlook for 2016 TeliaSonera share Sweden - development 2015 Europe - development 2015 Other operations - development 2015 Acquisitions and disposals Legal and administrative proceedings Innovation, research and development Environment Remuneration to executive management Parent company Significant events after year-end 2015 Proposed appropriation of earnings Risks and uncertainties Risks – Industry and market conditions Risks – Operations and strategic activities Risks – Associated companies and joint operations Risks – Sustainability Risks – Owning TeliaSonera shares TeliaSonera provides communication services helping millions of people to be connected and communicate, do business and be entertained. By doing that we fulfil our purpose to bring the world closer – on the customer´s terms. www.teliasonera.com sitemap © TeliaSonera 2015 In the event of any differences between this online version of the Annual and sustainability report and the printed version, the printed version shall prevail.