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Norway may cut stakes in Telenor and Kongsberg Gruppen-Reuters

Thursday, 19 Jun 2014 06:15pm EDT 

Telenor ASA:Norway's government will ask parliament for the right to cut its stake in telecommunications company Telenor and industrial group Kongsberg Gruppen to 34 percent of each entity, the trade minister said on June 19-Reuters.Norway's government holds 54 percent of Telenor, a global telecoms company with 172 million customers in Europe and Asia.The state owns 50 percent in Kongsberg Gruppen.A 20 percent stake in Telenor is worth around $7.1 billion at current prices, while a 16 percent stake in Kongsberg Gruppen is worth around $440 million.