Other shareholders in Network Norway are among others Orkla ASA, Katalysator AS, Bredbåndsalliansen AS and the founder Egil Skibenæs. The shareholders will contribute with sufficient capital to secure further development and growth of the company. Following the planned transactions, Hafslund Venture will have an ownership share of about 18 percent in Network Norway.

 

The mobile traffic from Ventelo's about 170,000 customers and One Call's about 100,000 customers are planned to be transferred to the telecom network of Network Norway. The company will become the third largest mobile player in Norway, with operations targeting both the private-and corporate market. Network Norway is expected to withdraw significant synergies through ownership in its own infrastructure, and a considerable customer portfolio, which generates traffic in the network. Following the transactions, Network Norway serves about 450,000 customers and has an expected turnover of approximately NOK 1.9 billion in 2008. 

 

- We wish to contribute to the establishment of a large and profitable mobile company in Norway. With its industrial and financial owners, Network Norway is well positioned for continuing the construction of a modern mobile network based on 3G in Norway, and achieve further positive value growth by offering new products and services to the mobile market, says managing director in Hafslund Venture AS, Mr. Tore Schiøtz.

- The transaction is a natural continuation of our engagement in One Call. The commitment represents a considerable potential for further value growth, says Mr. Schiøtz.

Hafslund ASA

Oslo, 20 December 2007

 

 

For further information, please contact:

 

Managing Director Hafslund Venture AS, Mr. Tore Schiøtz, tel + 47 915 21 719