Telenor Business Solutions today announced that it has terminated the business combination agreement with Song Networks, and the offer to participate in a financial restructuring of the company.
“The lack of progress in the negotiations between Song Networks and its bondholders regarding our agreement and the clear indication that the bondholders want Song Networks to explore additional alternatives, has compelled us to take this step,” said Morten Lundal, CEO of Telenor Business Solutions. “We still believe in the industrial and financial logic of the proposed agreement. We will continue to look for financially sound opportunities that will further strengthen TBS’ Nordic presence.”
For further information:
Arne Cartridge, Director Communications, Telenor Business Solutions:
tel. +47 47 900 900