Sonera Appeals to the Supreme Administrative Court.Business Editors HELSINKI, Finland--(BUSINESS WIRE)--Sept. 27, 2002 Sonera Corporation (HEX: SRA SrA abbr. senior airman ; NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : SNRA SNRA Sawtooth National Recreation Area (Idaho) SNRA Swedish National Road Administration SNRA Système National de Recherche Agricole ): - Administrative Court of Helsinki Affirmed FICORA's Interpretation of The Calculation Grounds Applied in Relation To The Interconnection Pricing of Sonera's Mobile Communications The Administrative Court of Helsinki has today issued a decision on the appeal filed by Sonera Corporation (HEX: SRA; NASDAQ: SNRA) against the decision which was issued on April 24, 2001 by the Finnish Communications Regulatory Authority Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities (FICORA FICORA Finnish Communications Regulatory Authority (Finland) ; formerly the Telecommunications Administration Centre) and according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. which the interconnection pricing applied by Sonera in domestic mobile communications was not reasonable in relation to the actual costs. The FICORA was therefore of the opinion that Sonera had priced its interconnection fees contrary to the Telecommunications Market Act and obliged o·blige v. o·bliged, o·blig·ing, o·blig·es v.tr. 1. To constrain by physical, legal, social, or moral means. 2. Sonera to revise its pricing. In May 2001, Sonera filed an appeal against the decision of the FICORA with the Administrative Court of Helsinki, as the company considered that Sonera and the FICORA had different ideas of what should be taken into account in the pricing of interconnection. Sonera did not agree with the FICORA's view on the pricing grounds because, for example, the company considers it to reward inefficient operations. In its decision issued today, the Administrative Court of Helsinki stated that the FICORA's method of determining the amount of capital tied to mobile networks and method of handling the above-mentioned costs allocated by Sonera to mobile networks shall not be considered erroneous. Sonera will appeal the decision of the Administrative Court of Helsinki to the Supreme Administrative Court A Supreme Administrative Court is the highest court in a country with jurisdiction over the official decisions of the government. For a specific country, see:
Sonera believes that the correct, essential elements have been taken into account in its pricing regime, and that its regime encourages efficiency. The correct price level for interconnection traffic should be based on commercially negotiated solutions. In the spring and summer of 2001, Sonera concluded new mobile communications interconnection agreements with all mobile network operators in Finland. The interconnection fees of Sonera's mobile communications that are now examined are lower than those of other Finnish operators and, even internationally speaking, they are low. The revenues generated in 2001 by Sonera's mobile communications business amounted to EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1,213 million, which is about 55% of the total revenues of Sonera in 2001. For further information, contact: Jyrki Karasvirta, Vice President, Press Relations Tel: + 358 2040 60537 e-mail: jyrki.karasvirta@sonera.com Tiia Tuovinen, Deputy General Counsel, Legal Affairs Tel: +358 2040 58249 e-mail: tiia.tuovinen@sonera.com Sonera Corporation (HEX: SRA, NASDAQ: SNRA) is a leading provider of mobile and advanced telecommunications services In telecommunication, the term telecommunications service has the following meanings: 1. Any service provided by a telecommunication provider. 2. . Sonera is growing as an operator, as well as a provider of transaction and content services in Finland and in selected international markets. The company also offers advanced data solutions to businesses, and fixed network voice services in Finland and neighbouring markets. In 2001, Sonera's revenues totaled EUR 2.2 billion, and profit before extraordinary items and taxes was EUR 0.45 billion. Sonera employs about 7,400 people. www.sonera.com |
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