Telenor won Sonofon tax case

Press release
Fornebu
1 minute read
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