Download the complete report here
The report states that no Telenor employees have been involved in corrupt actions. It gives Telenor partial credit for its handling of the ownership in VimpelCom, but also points to weaknesses in organisational structure, communication and leadership in this matter. This is serious. The Board and the management recognise that we must improve how we work. It is obvious to follow laws and regulations, but we have to reach further. There should never be any doubt that we in Telenor are fully compliant with our ethical guidelines, says Gunn W rsted, Chair of the Board of Telenor.
In November 2015, the Board of Directors of Telenor ASA engaged Deloitte to conduct a review of Telenor's follow up and handling of its VimpelCom ownership, which the report characterises as complex and demanding. Telenor's handling of the VimpelCom ownership is described as insufficient.
We shall learn from this demanding case and use it to build an even stronger Telenor. We have already implemented actions to strengthen governance procedures and the awareness of what our ethical guidelines demand of our leaders. Now we will thoroughly study the report and consider if the initiatives are sufficient, says Gunn W rsted.
A central part of the report relates to Telenor's handling of a serious matter in 2011, from an employee seconded to VimpelCom. The person raised concerns of potential corruption to executives in Telenor and to Telenor nominated board members in VimpelCom. This concern, however, was not shared with Telenor's then CEO, Jon Fredrik Baksaas, until March 2014 and then to the Telenor Board of Directors in December 2014. The Ministry of Trade, Industry and Fisheries was informed in October 2015.
Telenor has today reached an agreement of resignation with CFO, Richard Olav Aa and General Councel P l Wien Espen. Fridtjof Rusten and Ole Bj rn Sjulstad, who have also been temporarily relieved of their responsibilities during the Deloitte review, will revert to their former positions in Telenor.
We acknowledge that on this occasion we were unsuccessful in handling an important concern according to Telenor's ethical standards. It is however good to see that a Telenor employee noticed unacceptable practices and spoke up about them, said Sigve Brekke, CEO and President of Telenor.
The Telenor Board and management have initiated several measures to improve the company's work with governance, compliance and transparency (see facts). The Deloitte review is presented in its entirety.
For all of us in Telenor, this is a challenging day. To get detailed information about a very difficult and complex case unfolded in public, is hard. But we have to face up to the criticism and learn from it. We take the findings seriously and will use this case to learn and improve, said Sigve Brekke.
Telenor operates in markets where issues that raise ethical concerns will occur. The company handles ethical issues on an ongoing basis. The board and management have recently initiated reviews of these and uncovered possible misconduct in other parts of the business.
One case involves suspicions of financial crimes and has been reported to the local police. Due to the investigation, Telenor has been asked by local authorities to not comment any further on the case at this point.
The other case is from Thailand, where dtac's internal audit uncovered deviations from the company's guidelines relating to some site lease agreements. Further review will show if these agreements have been in accordance with existing guidelines. The review will be finalised at the end of 2016.
The National Authority for Investigation and Prosecution of Economic and Environmental Crime ( kokrim) and The Ministry of Trade, Industry and Fisheries have been briefed on both matters.
Telenor is present in many markets with heightened risk. Our job is to secure sound business practice through identifying, reporting and handling demanding issues according to our ethical guidelines. High ethical standards among all our employees is a vital part of our safety net, concludes Sigve Brekke.
Press conference Deloitte and Telenor's Chair and CEO will present the report at 11:00 today during a press conference at Telenor Expo. The report will be published on www.telenor.com.
The presentation, which will also be transmitted directly via webcast will be held in Auditorium Voice, Telenor Expo, Snar yveien 30 at Fornebu. The press conference will be held in Norwegian.
For further information:
Severin Roald, SVP Head of Group Communications, +47 920 30 033
Glenn Mandelid, VP Head of Media Relations, +47 926 61 300
About changes Telenor is implementing to strengthen governance structures and compliance
Changes to the board's committees to strengthen the board's control and development of the company
Establish a separate steering committee in the corporate management team (GEM) to strengthen implementation and daily coordination, and to improve control of business operations
Clearer mandate, training and monitoring of directors on the boards of subsidiaries
Closer monitoring of subsidiaries in areas such as ethics, risk and HMS, based on a model from financial reporting
New reporting lines for internal audit and compliance directly to the CEO and the Board of Directors
A hotline for notification of breaches of the Code of Conduct to an independent, external party
Training of all 36,000 employees in Telenor's Code of Conduct
About the Deloitte Advokatfirma Review Deloitte has focused on Telenor's handling of its minority shareholding in VimpelCom from 2005 to 4 November 2015. Deloitte has assessed the facts and identified learning points for governance and organisation of ownership. The independent review has been conducted over the past six months. The fin
Most recent headlines
06/10/2025
France T l visions, France's leading broadcaster, has received the 2025 EBU ...
04/09/2025
Monumental Sports & Entertainment (MSE), in collaboration with Dalet, has been a...
30/08/2025
WASHINGTON The Federal Communications Commission has adopted its FY 2025 Regulatory Fees Order that establishes the regulatory fee rates for the broadcast stati...
29/08/2025
Australian Red Cross and SBS launch training to help workplaces in the fight aga...
29/08/2025
The National Film and Video Foundation (NFVF), an agency of the Department of Sp...
29/08/2025
L3Harris Technologies has concentrated decades of expertise across the entire enterprise to develop affordable and reliable best-of-breed solutions to rapidly c...
29/08/2025
BURBANK, Calif. The CW Network and the Pac-12 Conference have announced a new media rights deal that will extend their broadcast partnership beginning with the ...
29/08/2025
NEW YORK Gracenote has released a new analysis of its global video dataset showing that the number of FAST channels grew nearly 14% from Q1 2025 and 76% since 2...
29/08/2025
SAN JOSE, Calif. Harmonic has announced a series of improvements to its live sports streaming solution that the company said will improve fan engagement, protec...
29/08/2025
NEW YORK and LOS ANGELES Fox Corp. and YouTube TV last night announced a renewal of the full portfolio of Fox networks, including Fox News Channel, Fox Business...
29/08/2025
Budapest, Hungary, August 2025 - The integration of Microsoft Teams Rooms (MTR) with Lightware's Taurus universal matrix switchers delivers a new level of f...
29/08/2025
Frequency, the engine behind many of the world's best-known streaming television channels, today announced it will launch Studio Live, a next-generation uni...
29/08/2025
In an era when AI and cyber resilience are essential, Scality will mark the 10th anniversary of Scality Day on October 16, 2025 in Paris. This flagship global e...
29/08/2025
Disguise's In-House Creative and Technical Teams Pre-Visualised, Programmed and Delivered Content for the Experience, All Powered by EX 3+
Technology solu...
29/08/2025
Disguise will be demonstrating the latest workflows for TV, film and live events on a number of partner booths at the show
Disguise, the industry-leading tech...
29/08/2025
STOCKHOLM, Sweden Accedo will showcase Accedo Compose, its AI agent-powered modular orchestration layer that assists streaming providers in transitioning client...
29/08/2025
LOS ANGELES Cineverse has announced that it is working with Xperi to bring four of its streaming channels to automobiles for the first time as part of the DTS A...
29/08/2025
DALLAS & ATLANTA Gray Media has announced an agreement with the sports streaming service Victory+ to simulcast 17 Dallas Stars NHL games in 15 television market...
29/08/2025
NEW YORK AND CULVER CITY Comcast NBCUniversal and Amazon have announced new and extended distribution agreements that will expand the content available on their...
29/08/2025
FOOTHILL RANCH, Calif. RED Digital Cinema will feature its Cine-Broadcast Module supporting live broadcast workflows during IBC2025, Sept. 12-15, at the RAI Ams...
29/08/2025
29 Aug 2025
Kyivstar Rings Opening Bell at Nasdaq Marking Landmark Listing and ...
29/08/2025
More than half of all NFL games live on Sky for the first timeFriday 29 August 2025
Sky Sports has announced a new three-year deal with the NFL, extending its ...
29/08/2025
Back to All News
RIV4LRIES: The Trailer of the New Series With Samuele Carrino ...
29/08/2025
Get ready for an inspiring and emotional insight into the world of competitive Irish dancing with My Story: Tomi Champion of the World airing on RT 2 this monda...
29/08/2025
RT has today announced that David McCullagh is to be the new presenter of RT Radio 1's flagship Today programme, which airs every weekday at 10am, replaci...
28/08/2025
By Kristin Feeley, Director, Documentary Film & Artist Programs
If you want to tell untold stories, if you want to give voice to the voiceless, you've got ...
28/08/2025
Directed by Steven Bognar and Julia Reichert, Sundance Institute-supported Amer...
28/08/2025
Corridos have been a cornerstone of M sica Mexicana for generations, telling stories rooted in everyday life. Now, a new chapter is taking shape: motivational c...
28/08/2025
Los corridos han sido un pilar de la M sica Mexicana durante generaciones, contando historias enraizadas en la vida cotidiana. Ahora, un nuevo cap tulo est tom...
28/08/2025
Earlier this month, we promised our Verano Forever party would bring the heat, a...
28/08/2025
L3Harris will provide the Polish F-16V fleet with the Viper Shield electronic warfare system as part of an upgrade program....
28/08/2025
Bilbao, August 26, 2025 - AgileTV, an international television and video technol...
28/08/2025
Ken Wilkinson is an Emmy Awards nominated New York audio engineer who specialises in production sound mixing for film, commercial, episodic and documentary work...
28/08/2025
NEW YORK FuboTV today announced that it will launch Fubo Sports, a skinny bundle that focuses on sports with a subscription price of $56 monthly....
28/08/2025
NEVADA City, Calif. At IBC2025, Sept. 12-15 at the RAI Amsterdam, Telestream will debut its new Global Ingest strategy, introducing a next-generation ingest arc...
28/08/2025
Dr. Rhoda Bernard Releases Groundbreaking Debut Book on Accessible Arts Educatio...
28/08/2025
TAG Video Systems, the leader in software-based IP end-to-end workflow monitoring, deep probing, and real-time visualization, has named Oliver Gappa as Sales Di...
28/08/2025
AI-based voice enhancement will be among a series of innovations making their IBC 2025 debut on the DHD stand B46 in Hall 8 at the RAI Amsterdam Convention Cent...
28/08/2025
Telef nica Servicios Audiovisuales (TSA), the leading system integrator and service provider in the media sector in Spain, with the support of Appear, the globa...
28/08/2025
To fully immerse sailing fans in the world's biggest offshore yacht race, production company, Optical Media turned to LiveU's On-site Production solutio...
28/08/2025
Working with Calrec on its most recent overhaul, radio and television broadcaster, WNED has migrated to a fully IP infrastructure with multiple Type R consoles,...
28/08/2025
Cleeng, the Subscriber Retention Management (SRM ) inventor, has unveiled Cleeng Pro, the first-ever direct-to-consumer (D2C) subscription management platform t...
28/08/2025
Zixi, the industry leader in live broadcast-quality video over IP, today announced that French media distribution platform OKAST has selected Zixi to enable rel...
28/08/2025
Solution offers a streamlined, speaker-free architecture to optimize integration with premium external loudspeakers and advanced loudness metering
Nixer Pro Au...
28/08/2025
Cinegy, the premier provider of software-defined television technology, has announced a strategic partnership with Vision One Touch Film Production Services L.L...
28/08/2025
Telestream, a global leader in media workflow technologies, will debut its new Global Ingest strategy at IBC2025, introducing a next-generation ingest architect...
28/08/2025
Tier 1 operator selects Broadpeak to power high-performance, unified CDN solution across Norway, Sweden and Finland
Broadpeak, a leader in streaming and moneti...
28/08/2025
Leading video software provider, Synamedia, today announced that 24 Frames Digital, one of India's leading live event streaming service providers, has chose...
28/08/2025
Meet VisualOn at IBC2025: See What's Next in AI-Powered Video Streaming Join VisualOn at IBC2025 and discover how our AI-driven Optimizer and advanced media...
Download the complete report here
