Sweden says F.Telecom bid undervalues TeliaSonera

STOCKHOLM (Reuters) - Swedish Financial Markets Minister Mats Odell said on Thursday he agreed with the board of TeliaSonera (TLSN.ST) that an indicative bid from France Telecom did not reflect the group's full value.

"We welcome all interested parties, but in this case we share the opinion of the TeliaSonera board that the bid does not fully reflect the company's full value and potential," Odell told reporters, though he added that he did not rule out France Telecom as a potential owner of the Nordic telecom group.

"Of course they are a conceivable owner," he said.

Sweden owns 37.3 percent of TeliaSonera and has pledged to sell off its stake as part of the government's privatization program, the Nordic country's biggest ever.

Odell said the government had not received any other indicative bids for TeliaSonera besides France Telecom's offer, but would not make any further comments regarding market interest in the Nordic telecom operator.

TeliaSonera's board, responding to the details of the long-rumored indicative bid unveiled by France Telecom earlier on Thursday, unanimously rejected the offer, saying it "significantly" undervalued the firm.

Odell told journalists the government was prepared to accept France Telecom shares as payment for its TeliaSonera stake.

"In order for TeliaSonera's full potential to be utilized we must also be able to take part in the European consolidation and therefore we must be prepared to accept shares as payment," he said.

(Reporting by Johan Ahlander and Johan Sennero; Editing by David Cowell)