Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Sergey Fedoseev - HSBC.
Sergey Fedoseev - HSBC
Just two questions; one is a strategic one, and another one is more technical. The first one, could you please comment how you would deploy the money foundation asset; would it go to Africa or to Latin America? Which region would you see as a priority for the money?
Second question is more technical. This is on Q1 press release and the Q2 press release, you have the same comment. Exactly the same sentence saying, net profit for the period after a net charge of $55 million as a result of two one of events. Could you please comment on that? Is it accidentally a copy and fax mistake or it’s meant to be like that, and what are these two events then?
Mikael Grahne
Yes, thank you. I’ll take the first question of use of proceed and we’ll try to see if François will answer the second question there. Our natural growth grounds are Latin America and Africa and as Francois said, we would look for opportunities that would give us the mid-term ability to build a leading brand in the markets.
As Francois said, we are not in a hurry, we’d rather take time and find the right asset rather than rush in to anything quick. So we would look for opportunities in Latin America and in Africa and that’s in the process we are right now.
Sergey Fedoseev – HSBC
Just to clarify, do you have a priority, which continent will be more important?
Mikael Grahne
No, I think the priority is more the right opportunity. That’s the driving priority.
Francois-Xavier Roger
Regarding your second question for the net profit for the period we are relating, we are talking about the full year 2008, which is the reason why we have the same number in our Q1 and Q2 press release.
Sergey Fedoseev – HSBC
And could you please comment on the one offs on 2009, what’s the impact there?
Mikael Grahne
In 2009, the main one-off that we had were related to some impairment that we did on [Sera Leon]. We have decided to dispose of this asset last year. We are close to finalizing a deal. That’s one, but we have to impair somewhat the value of this asset in our books, which we did in between Q1 and Q2. It was probably between the two quarters.
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