Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Oslo Bors  >  Telenor ASA    TEL   NO0010063308

Delayed Quote. Delayed BATS Europe - 11/26 11:30:00 am
153.9 NOK   +0.46%
11/23 GRAMEENPHONE : GP gets new head of communications
11/21 TELENOR ASA : Denmark appoints CEO
11/17 New CEO for Otobi
News SummaryMost relevantAll newsSector news 

Telenor : chairman quits over TV2 deal

05/02/2012 | 09:54am US/Eastern

Telenor chairman Harald Norvik quit on Wednesday after the government, which owns 54 percent of the Norwegian group, withdrew support for him over the sale of TV2, the country's top commercial channel.

The resignation capped months of controversy since a company jointly owned by Telenor and labor unions sold its 50 percent stake in TV2 to Egmont for 2.1 billion Norwegian crowns ($367 million) in January, giving the Danish firm 100 percent control.

"The Minister of Trade and Industry, Mr. Trond Giske, representing the majority shareholder in Telenor ASA, today expressed a lack of confidence in the chairman of Telenor, following the handling of the TV2 issue in January this year," Norvik said in a statement.

Giske, who did not have the power to block the TV2 deal, had previously expressed dismay that the channel would end up in foreign ownership and likened the sale to selling off family silver. He declined to comment on Wednesday.

Telenor has also drawn fire recently for its difficulties in India, a market it may be forced to exit after the government cancelled 122 licenses following a corruption-tainted sale.

Norvik said his decision to leave was not related to the firm's Indian troubles.

($1 = 5.7213 Norwegian crowns)

(Reporting By Victoria Klesty; Editing by Dan Lalor)

React to this article
Latest news on TELENOR ASA
11/23 GRAMEENPHONE : GP gets new head of communications
11/21 TELENOR ASA : Denmark appoints CEO
11/19 TELENOR ASA : joins hands with KP gov for IT education
11/17 New CEO for Otobi
11/17 TELENOR ASA : Trades by primary insiders
11/16 CXENSE ASA : Telenor cancels interim agreement with Cxense
11/14 GRAMEENPHONE : GP Star customers to enjoy Aarong discount
11/14 TELENOR ASA : Staying sustainable while making money
11/12 GRAMEENPHONE : Robert Gibson visits Online School Teachers Center
11/12 TELENOR ASA : Two Pakistani technopreneurs make it to Telenor Youth Forum
News chart
Full-screen chart
Income Statement Evolution
More Financials