Norwegian telecompany acquires Bell South's shares in Sonofon  

Telenor has entered agreement with Bell South to acquire its shares in the Danish mobile company

Norwegian telecompany Telenor has entered an agreement with Bell South to acquire its 46.5% shares in the Danish mobile company Sonofon for DKK 3.68 billion (USD 588 million). The acquisition will make Telenor the sole owner of Sonofon. The final agreement is expected to be entered in H1 2004 subject to approval by the Danish tele authorities and relevant European authorities.


Sonofon is the second largest mobile company on the Danish market. At the end of Q3 the company had 1,085,000 mobile customers, an increase of 53,000 customers compared to the same time last year. Net turnover for the first 9 months of 2003 was DKK 3.2 billion (USD 500 million) corresponding to an increase of 8% compared with the same period in 2002. The news was reported by daily financial newspaper Børsen.


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