Tiscali acquires Nextra Germany

Telenor Business Solutions has reached an agreement with Tiscali to transfer its Internet business for Germany, Nextra Deutschland GmbH & Co. KG and Nextra Deutschland Verwaltungs GmbH, to Tiscali Deutschland GmbH. The sale is according to a plan announced with Telenor's third quarter results in October this year. The transfer price is agreed to Euro5 million and Nextra's operations will be integrated into Tiscali Business during Q1 2002. Nextra's Managing Director, Diethelm Siebuhr will become Managing Director of Tiscali Business.