Reading Time: 1 minute
Telenor/Telia have entered into an agreement to sell the Norwegian subsidiary Telia Norge AS to Enitel. Total selling price is NOK 2,000 million. Through the sale, Telenor/Telia will make a profit of c. NOK 1,400 million.
The sale of Telia Norge to Enitel must be approved by the authorities in Sweden and Norway and by the EU Commission. The sale of Telia Norge was one of the conditions set by the EU Commission in order to approve the merger of Telenor and Telia.
Through the agreement now signed Enitel will take over all parts and employees of Telia Norge. Telia will continue to be an important supplier to Telia Norge during a transition period.
Telia Norge is currently involved in telephony, data communications, the Internet and telephony systems. The company serves both corporate and private customers. At the end of November the company had around 300 employees. In 1999 Telia Norge is expected to post revenues of about NOK 600 million.
The Carnegie company has been Telenor/Telia’s financial adviser in connection with the sale of Telia Norge.