Telenor Sells Stake In Inmarsat

CONSTELLATIONS

by Staff Writers
Oslo, Norway (SPX) Mar 15, 2006
Norwegian telecommunications operator Telenor ASA said Tuesday it would book a gain of 906.1 million kroner (115.4 million euros, 137 million dollars) after selling its 4.6-percent stake in Inmarsat PLC of Britain, the world's leading provider of satellite mobile phone services.

The shares were sold at 3.78 pounds a piece, providing Telenor with total sales proceeds of 79.5 million pounds (137 million dollars, 114 million euros).

Telenor did not specify when the gain would be booked.

A spokesman for Telenor said the transaction was carried out by Morgan Stanley and Lehman Brothers, adding that the final holders of the shares were not known.

Source: Agence France-Presse

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