Alexa

Telenor chairman quits over minister row

Telenor chairman quits over minister row

The chairman of telecommunications group Telenor ASA, which is majority-owned by the Norwegian government, says he will resign after failing to patch relations with a minister over a dispute involving the sale of a media company.
Harald Norvik said Wednesday he would resign after Trade and Industry Minister Trond Giske expressed a lack of confidence in him following Telenor's decision to sell a stake in TV2, one of Norway's largest commercial channels, to a Danish investor.
Giske was against the sale as he preferred a Norwegian owner for the influential TV station.
Telenor sold the stake in January through subsidiary A-Pressen to Denmark's Egmont International Holding.
Telenor is 54 percent owned by the Norwegian government.