Note 29 (Consolidated)
Leasing Agreements

TeliaSonera as lessee

Finance leases

The Group's finance leases concerns computers and other IT equipment, production vehicles, company cars to employees, and other vehicles. There is no subleasing.

The carrying value of the leased assets as of the balance sheet date was as follows.

	December 31,
SEK millions	2008	2007
Cost	623	665
Less accumulated depreciation	-491	-477
Net carrying value of finance lease agreements	132	188

In 2008 and 2007, depreciation and impairment losses totaled SEK 88 million and SEK 84 million, respectively. Leasing fees paid in these years totaled SEK 63 million and SEK 82 million, respectively.

As of December 31, 2008, future minimum leasing fees and their present values as per finance lease agreements that could not be canceled in advance and were longer than one year in duration were as follows.

Expected maturity SEK in millions	2009	2010	2011	2012	2013	Later years	Total
Future minimum leasing fees	45	30	17	7	5	10	114
Present value of future minimum lease payments	43	28	15	6	4	8	104

As of the balance sheet date, the present value of future minimum leasing fees under non-cancelable finance lease agreements was as follows.

	December 31,
SEK millions	2008	2007
Total future minimum leasing fees	114	141
Less interest charges	-10	-13
Present value of future minimum leasing fees	104	128

Operating leases

TeliaSonera's operating lease agreements primarily concern office space, technical sites, land, computers and other equipment. Certain contracts include renewal options for various periods of time. Subleasing consists mainly of office premises.

Future minimum leasing fees under operating lease agreements in effect as of December 31, 2008 that could not be canceled in advance and were in excess of one year were as follows.

Expected maturity SEK in millions	2009	2010	2011	2012	2013	Later years	Total
Future minimum leasing fees	1,889	1,634	1,221	1,016	889	1,994	8,643
Minimum sublease payments	23	18	10	5	2	0	58

In 2008 and 2007, total rent and leasing fees paid were SEK 2,592 million and SEK 2,678 million, respectively. In these years, revenue for subleased items totaled SEK 23 million and SEK 27 million, respectively.

At the end of 2008, office space and technical site leases covered approximately 786,000 square meters, including approximately 5,000 square meters of office space for TeliaSonera's principal executive offices (enlarged by 700 square meters in early 2009), located at Sturegatan 1 in Stockholm, Sweden. Apart from certain short-term leases, leasing terms range mainly between 3 and 50 years with an average term of approximately 7 years. All leases have been entered into on conventional commercial terms. Certain contracts include renewal options for various periods of time.

TeliaSonera as lessor

Finance leases

The leasing portfolio of TeliaSonera's customer financing operations in Sweden, Finland, Denmark and Estonia comprises financing of products related to TeliaSonera's product offerings. The term of the contract stock is approximately 13 quarters. The term of new contracts signed in 2008 was 12 quarters. Of all contracts, 77 percent carry a fixed interest rate and 23 percent a floating interest rate. Most contracts include renewal options. In Finland, TeliaSonera also under a finance lease agreement provides electricity meters with SIM cards for automated reading to a power company as part of TeliaSonera's service package. The term of the agreement is 15 years and carries a fixed interest rate.

As of the balance sheet date, the present value of future minimum lease payment receivables under non-cancelable finance lease agreements was as follows.

	December 31,
SEK millions	2008	2007
Gross investment in finance lease contracts	1,344	1,125
Less unearned finance revenues	-210	-188
Net investment in finance lease contracts	1,134	937
Less: Unguaranteed residual values of leased properties for the benefit of the lessor	-1	-3
Present value of future minimum lease payment receivables	1,133	934

As of December 31, 2008, the gross investment and present value of receivables relating to future minimum lease payments under non-cancelable finance lease agreements were distributed as follows.

Expected maturity SEK in millions	2009	2010	2011	2012	2013	Later years	Total
Gross investment	322	229	158	75	57	503	1,344
Present value of future minimum lease payment receivables	307	208	137	61	45	375	1,133

As of December 31, 2008 and 2007, the reserve for doubtful receivables regarding minimum lease payments totaled SEK 8 million and SEK 6 million, respectively. Credit losses on leasing receivables are reduced by gains from the sale of equipment returned.

Operating leases

The leasing portfolio refers to the international carrier business and includes some 20 agreements with other international operators and 88 other contracts. Contract periods range between 10 and 25 years, with an average term of 20 years.

The carrying value of the leased assets as of the balance sheet date was as follows.

	December 31,
SEK millions	2008	2007
Cost	4,013	3,689
Less accumulated depreciation	-2,596	-2,211
Less accumulated impairment losses	-300	-300
Gross carrying value	1,117	1,178
Plus prepaid sales costs	0	2
Less prepaid lease payments	-449	-800
Net value of operating lease agreements	668	380

Depreciation and impairment losses totaled SEK 286 million in 2008 and SEK 346 million in 2007.

Future minimum lease payment receivables under operating lease agreements in effect as of December 31, 2008 that could not be canceled in advance and were in excess of one year were as follows.

Expected maturity SEK in millions	2009	2010	2011	2012	2013	Later years	Total
Future minimum lease payments	311	132	77	39	19	19	597