Telenor chair faces Panama questions about offshore accounts

The Norwegian government, which owns 54% of Telenor, has asked board members to question company chairwoman Gunn Waersted about links to her previous employer in the so-called Panama papers.

Waersted was head of wealth management at Swedish bank Nordea before she joined Telenor. Nordea has been named in documents leaked from Panamanian lawyers Mossack Fonseca as having used the law firm to help clients set up offshore accounts.

Telenor has not commented on the reports, which say that Telenor’s nomination committee will question Waersted about her role. She has chaired Telenor since December 2015, and has retains an advisory role at the bank until this month.

Waersted was brought into Telenor to supervise the company after VimpelCom, which it part-owns, agreed to pay $795 million in fines to Netherlands and US authorities after an investigation into alleged bribery in Uzbekistan.

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