Government reduces Telenor stake

31 Mar 2004

Norway’s government has reduced its interest in national PTO Telenor through the sale of 170 million shares, or 9.4% of the company’s share capital, as part of the state’s wider privatisation plan. Dealers reported that the shares were trading at NKK48.9 yesterday, below Monday’s closing price of NKK49.9, valuing the stake at NKK8.3 billion (USD1.2 billion). Following the transaction the Norwegian government is left with around 53% of the telco.

Norway, Telenor Group