Telenor won Sonofon tax case
Press Releases:
In its decision of 17 October 2006, the Norwegian Supreme Court ruled in favour of Telenor, that the loss recognised upon internal sale of the shares in Sonofon Holding A/S was tax deductible in 2001. Thus, the Supreme Court upheld previous decisions made by Oslo City Court (Oslo Tingrett), and the Appeal Court (Borgarting Lagmanssrett).
As a consequence of this decision, Telenor will be repaid approx. NOK 2,414 million of previously paid corporate income tax. Telenor will receive a tax exempt interest compensation of approx. NOK 318 million and previously expensed, but not paid, late payment interest of approx. NOK 256 million will be reversed. Telenor will show a tax income of approx. NOK 2,414 million and a financial income of approx. NOK 574 million in the fourth quarter 2006.
Contact:
Kai Rosenberg
Vice President Corporate Communications
Telenor ASA, tel (+47)915 54 357