Norwegian state reduces Telenor stake in €984m deal

The Norweigan government has reduced its stake in telecoms company Telenor.

As part of a wider privatisation programme, the Norweigan government has reduced its involvement by 10% to leave it with about 53% of the current share capital.

170 million shares (9.4%) of Telenor's share capital was sold earlier in the week to investment bank Goldman Sachs.

Dealers said the shares were being sold for NKr48.90 (€5.81) in trade on Tuesday, below Monday's closing price of NKr49.90 (€5.93), valuing the stake at about NKr8.3bn (€989m).

The government has recently reduced its stake in oil company Statoil and airline SAS.