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OSLO, Nov 22 (Reuters) – Norway’s centre-right authorities will quit its proper to promote a 20% stake in telecoms operator Telenor TEL.OL, it mentioned in a press release on Friday.
Parliament authorised a plan in 2015 to permit the federal government to cut back its possession within the group to 34% from the present 54%, however no motion was taken to proceed with a sale.
Telenor is Norway’s third-largest listed agency after oil agency Equinor EQNR.OL and financial institution DNB DNB.OL. At its present share worth, a 20% stake in Telenor is price 47.eight billion Norwegian crowns ($5.23 billion).
“The authorisation has not been utilised and, primarily based on an total evaluation, the federal government sees no want to increase it,” Minister of Commerce and Trade Torbjoern Roe Isaksen mentioned.
“The state’s rationale for its possession of Telenor is to take care of a number one technological and industrial firm with head workplace features in Norway. The state’s purpose as an proprietor is the…