BT and Telenor agree on extending option on Esat Digifone
Fornebu
1 minute read
BT and Telenor agree on extending Telenors put option on Esat Digifone from December 7 this year to February 7, 2001.
Under an agreement between BT and Telenor reached earlier this year, Telenor has the right to exchange its 49.5 per cent shareholding in Esat Digifone for a 33 per cent stake in the Esat Telecom Group. Todays announcement extends the deadline by which Telenor has to exercise its option.
An additional option available to Telenor to then sell its Esat Telecom stake to BT for $1.237 billion is reduced by two months, to 208 days, commencing on the date of the completion of the exchange of the Digifone shares
An additional option available to Telenor to then sell its Esat Telecom stake to BT for $1.237 billion is reduced by two months, to 208 days, commencing on the date of the completion of the exchange of the Digifone shares