EU approves Telenor, Sonofon deal - Company Business and Marketing
TELECOMWORLDWIRE-8 August 2000-EU approves Telenor, Sonofon deal (C)1994-2000 M2 COMMUNICATIONS LTD http://www.m2.com
The Norwegian telecoms company Telenor's acquisition of joint control of Denmark's Sonofon has been authorised by the European Commission.
Sonofon is currently controlled by BellSouth Corp and GN Great Nordic. Under the terms of the agreement, Telenor will buy GN Great Nordic's 53.5% stake in Sonofon.
After a one-month review, the European Commission decided that the acquisition did not cause any competition concerns as mobile phone markets are national and Telenor is not currently active on the Danish mobile market.
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