Tallinna Börs                 NEWS RELEASE                      06/10/2004



TELIASONERA’S CASH OFFER NOT TO BE IMPLEMENTED



The offer by TeliaSonera AB to purchase all shares of AS Eesti Telekom not 

already owned by TeliaSonera, has not been accepted to such extent that 

TeliaSonera holds at least 85 percent of the shares in Eesti Telekom. 

Therefore the offer will not be implemented.



"Taking into account the relative high valuation of Eesti Telekom, both in 

relation to Central and Eastern European incumbents and Western European 

incumbents and relative to the company’s growth prospects, the offer price is 

fair. Increasing the offer price was never an option, since TeliaSonera is 

not prepared to overpay", Kenneth Karlberg, TeliaSonera Norway, Denmark and 

Baltic Countries president, says. 



The respective account operators and the Estonian Central Register of 

Securities will annul the transaction instructions of each accepting 

shareholder.





Further information:

Birgitta Grafström, Communications Manager, TeliaSonera Norway, Denmark, 

Baltic countries, tel: +46-(0)70-555 00 04 

TeliaSoneras Press Office, tel: +46-(0)8-713 58 30





Lauri Lind

AS Hansapank

+372 6131 355