Tormod Hermansen: "No shares offered to BT!"
Fornebu
3 minute read
There have been some claims in the media today that the future C.E.O. of the proposed merged Telenor/Telia, Mr. Tormod Hermansen, has offered BT (British Telecom) an ownership share of between three and 15 per cent in the new company. "I have of course not offered any such thing to BT relating to ownership shares. Distribution of shares will be handled by the owners - the Norwegian and Swedish governments - and I strongly reject such unfounded claims," states Mr. Hermansen.
In connection with BTs (British Telecoms) annual partnership meeting last week, which this time took place in Oslo, Tormod Hermansen invited the Chairman and C.E.O. of BT, Sir Peter Bonfield to meet the Telia and Telenor Chairmen. The background for the meeting was BTs year-long collaboration with Telenor, and the purpose was to exchange views on a possible co-operation between the merged company and BT in the future.
Participants from Telenor and Telia were Mr. Jan Stenberg, Chairman of Telia Mr. Arnfinn Hofstad, Chairman of Telenor Mr. Terje Thon, Senior Executive Vice President of Telenor and Mr. Tormod Hermansen, President and C.E.O. of Telenor. Telias C.E.O., Mr. Jan-Ã ke Kark was also invited but was unable to attend.
"I informed about the progress of the merger plans. Ownership was also discussed in connection with this. I explained what restrictions the ownership agreement sets for the distribution of shares to individuals and companies. The whole point of this restriction - which limits the ownership that any one part can hold after the initial public offering to three per cent - is to prevent any other strategic owners than the two states," says Mr. Hermansen.
"I have of course not offered any ownership shares at all to BT. I am fully aware that neither myself nor the Company is in any position to make such an offer, and that offering and distribution of shares will be handled by the owners and the banks appointed by them to assist in the public offering."
"I strongly reject any claims that I should have offered shares to BT and I am quite puzzled as to how such claims may have been put forward at all," says Hermansen.
Participants from Telenor and Telia were Mr. Jan Stenberg, Chairman of Telia Mr. Arnfinn Hofstad, Chairman of Telenor Mr. Terje Thon, Senior Executive Vice President of Telenor and Mr. Tormod Hermansen, President and C.E.O. of Telenor. Telias C.E.O., Mr. Jan-Ã ke Kark was also invited but was unable to attend.
"I informed about the progress of the merger plans. Ownership was also discussed in connection with this. I explained what restrictions the ownership agreement sets for the distribution of shares to individuals and companies. The whole point of this restriction - which limits the ownership that any one part can hold after the initial public offering to three per cent - is to prevent any other strategic owners than the two states," says Mr. Hermansen.
"I have of course not offered any ownership shares at all to BT. I am fully aware that neither myself nor the Company is in any position to make such an offer, and that offering and distribution of shares will be handled by the owners and the banks appointed by them to assist in the public offering."
"I strongly reject any claims that I should have offered shares to BT and I am quite puzzled as to how such claims may have been put forward at all," says Hermansen.