Business Services Industry
Telenor ASA sells its shares in Intelsat
Nordic Business Report, Oct 21, 2004
NORDIC BUSINESS REPORT-21 October 2004-Telenor ASA sells its shares in Intelsat(C)1994-2004 M2 COMMUNICATIONS LTD http://www.m2.com
Norwegian telecomms group Telenor ASA said on Thursday (21 October) that it was selling its 4% share in the international satellite company Intelsat for USD129m.
The sale would give Telenor a book profit of some USD62m, according to the company.
The settlement for the shares would be in cash, and was expected to be concluded around year-end 2004, Telenor said.
One US dollar (USD) is worth approximately 0.56 British pounds (GBP).
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COPYRIGHT 2004 M2 Communications Ltd.
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