Telenor ASA signs agreement with Aker Kvaerner ASA

Nordic Business Report, Nov 3, 2006

NORDIC BUSINESS REPORT-3 November 2006-Telenor ASA signs agreement with Aker Kvaerner ASA(C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com

Norwegian telecomms group Telenor ASA said on Friday (3 November) that it has entered into an agreement with the Norwegian engineering, construction and technology group Aker Kvaerner ASA to supply mobile telephony solutions for some 4,000 employees in the group.

The agreement covers supply of mobile subscriptions, mobile data services, wireless hotspots and the Mobilt Kontor data card.

The agreement is worth NOK30m per year and will run for 18 months, with an option to extend.

Telenor is one of the world's largest mobile operators with nearly 83m subscribers in 12 countries. The group is also the largest provider of television services in the Nordic region. Telenor has some 27,600 employees and annual revenues of nearly NOK70bn. Telenor is listed on Oslo Stock Exchange under the ticker TEL and on Nasdaq under the ticker TELN.

Aker Kvaerner is 50.1%-owned by the Norwegian industrial holding giant Aker Group. It has 23,000 employees in over 30 countries. Aker Kvaerner is traded on Oslo Stock Exchange under the symbol AKVER.

One British pound (GBP) is worth approximately 12.48 Norwegian kroner (NOK).

((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))