View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
September 7, 2000

Strategic Profit on Sale of Telenordia

(COMPANY PRESS RELEASE) Tele Danmark has agreed to sell its stake in Swedish Telenordia to the other two shareowners, British Telecom (BT) and Norwegian Telenor.

By CBR Staff Writer

Tele Danmark held a third of the shares in Telenordia, and the two buyers will acquire one half of that stake each. Tele Danmark will receive SEK 2.6bn for the stake. The sale will generate profits of nearly SEK 2.3bn. Profits are tax-free as Tele Danmark has held the stake for more than three years.

The sale of the Telenordia stake will make Tele Danmark less tied up and restricted with respect to commercial activities in the Swedish market. Due to the Telenordia ownership, Tele Danmark has been restricted to sell data and telephony via Telenordia only.

Commercially it has definitely been to our benefit to free ourselves from the Telenordia ties as we now can sell our own communications solutions to Swedish companies. We have also made fair profits from the Telenordia sale and I think that we have reached a good solution both strategically and financially, states Henning Vest, CEO at Tele Danmark.

Tele Danmark has just re-structured the company to gear it for further growth. Our Swedish strategy did not fit in with the two other shareowners’ plans for Telenordia and we decided to pull out, Henning Vest says.

Content from our partners
Scan and deliver
GenAI cybersecurity: "A super-human analyst, with a brain the size of a planet."
Cloud, AI, and cyber security – highlights from DTX Manchester

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.