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Byline: Patricia Koza
Oslo-based Telenor ASA, Norway's largest telecom group, has sold half of its 18% stake in Greek mobile phone operator CosmOTE for NKr2.1 billion ($300 million), as it continues to restructure its holdings abroad.
Telenor said Wednesday, April 30, it had placed 29.7 million shares at [Euro]9.16 ($10.29) each, but didn't identify the buyer. The transaction represents a financial gain of NKr1.5 billion before tax, the company added.
The sale "is in line with Telenor's strategy to take control of selected mobile operations in our portfolio and to exit the positions where we do not gain control or for other reasons choose not to …