Business Services Industry
Telenor ASA completes sale of Telenor Satellite Services
Nordic Business Report, Sept 6, 2007
NORDIC BUSINESS REPORT-6 September 2007-Telenor ASA completes sale of Telenor Satellite Services(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
Norwegian telecomms group Telenor ASA said on Thursday (6 September) that it has completed the sale of Telenor Satellite Services (TSS).
On 25 October 2006 Telenor entered into a definitive agreement with Apax Partners for the sale of TSS to funds managed by Apax Partners.
The cash consideration was valued at USD400m.
Telenor is a mobile operator, with nearly 83m subscribers in 12 countries, and a 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'.
One British pound (GBP) is worth approximately 2.02 US dollars (USD). One British pound (GBP) is worth approximately 11.93 Norwegian kroner (NOK).
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