EBITDA? And the other question is savings compared to what? Is that compared to the current spending or compared to some sort of previous plans or if you ran it separately, what’s the baseline for the savings? Thank you. LARS TORSTENSSON: Thanks, Ulrich, for being so observant regarding our presentation there. That was a back-of-the-envelope discussion that we had, and I think that when it comes to a reference to savings it’s still the slide that is what we consider it to be. So that is taken out of its context and cannot be seen as a view on the market going forward. What we have said is what is in the slide and that we see EBITDA savings of up to SEK 300 million. But thanks for being observant. Would you like to follow up, Ulrich? ULRICH RATHE: No, thanks. LARS TORSTENSSON: Very good. Thank you. We’ll take the next question, please. OPERATOR: Our next question comes from Ms Lena Osterberg from Carnegie. Please go ahead. LENA OSTERBERG: It’s Lena Osterberg from Carnegie. Yes, I have a question. I was wondering about the gearing target that you’ve given, that you said would be below 1.25 now for the full year. I was just wondering how do you pay for the 1,800 licences. Are they all taken through Net4Mobility or do you pay for that, and is that case included in the below 1.25 guidance? And then I was also wondering on Russia. In the report you say that you will keep looking for possibilities to carefully expand your operations, either through new licences or acquisitions. This comment -- so we’ve been there before but I was wondering if there is anything new that you would like to highlight, any
EBITDA? And the other question is savings compared to what? Is that compared to the current spending or compared to some sort of previous plans or if you ran it separately, what’s the baseline for the savings? Thank you. LARS TORSTENSSON: Thanks, Ulrich, for being so observant regarding our presentation there. That was a back-of-the-envelope discussion that we had, and I think that when it comes to a reference to savings it’s still the slide that is what we consider it to be. So that is taken out of its context and cannot be seen as a view on the market going forward. What we have said is what is in the slide and that we see EBITDA savings of up to SEK 300 million. But thanks for being observant. Would you like to follow up, Ulrich? ULRICH RATHE: No, thanks. LARS TORSTENSSON: Very good. Thank you. We’ll take the next question, please. OPERATOR: Our next question comes from Ms Lena Osterberg from Carnegie. Please go ahead. LENA OSTERBERG: It’s Lena Osterberg from Carnegie. Yes, I have a question. I was wondering about the gearing target that you’ve given, that you said would be below 1.25 now for the full year. I was just wondering how do you pay for the 1,800 licences. Are they all taken through Net4Mobility or do you pay for that, and is that case included in the below 1.25 guidance? And then I was also wondering on Russia. In the report you say that you will keep looking for possibilities to carefully expand your operations, either through new licences or acquisitions. This comment -- so we’ve been there before but I was wondering if there is anything new that you would like to highlight, any
transcript_tele2_interim_report_19-10-2011.docx