Oslo - Norwegian telecommunications group Telenor shares dropped Wednesday after the group unveiled plans to expand into India in connection with its third-quarter report.
The group's share price was off some 15 per cent at midday on the Oslo bourse, since the Telenor management said it would need a cash injection of 12 billion kroner (1.7 billion dollars) for the pending expansion into India.
Telenor planned a rights issue - a way of issuing new shares - next year, chief executive Jon Fredrik Baksaas told analysts after announcing that Telenor had signed a deal to secure a 60-per-cent controlling stake in Indian group Unitech Wireless.
Oslo - British actor Michael Caine is to co-host the upcoming Nobel Peace Prize Concert along with US actress Scarlett Johansson, organizers said Wednesday.
Caine, a two-time Academy Award-winning actor, appeared with Johansson in the 2006 movie The Prestige.
He was knighted in 2000, the same year he won an Oscar for best supporting actor for Cider House Rules.
Oslo - Norwegian telecommunications group Telenor on Wednesday posted an increase in pre-tax profit and sales for third- quarter of 2008 and unveiled plans to expand into India.
Earnings before interest, taxes, depreciation and amortization (EBITDA) were 10 billion kroner (1.44 billion dollars), compared to 9.48 billion kroner in the corresponding business period of 2007.
Sales increased year-on-year from 26.6 billion kroner to 27.6 billion kroner, the group said.
Chief executive Jon Fredrik Baksaas said Telenor had 159 million mobile telephone subscriptions at the end of the quarter.
Baksaas said the business environment was "currently more turbulent, and we foresee a period with lower global growth."
Kassel, Germany - Germany's BASF chemicals and oil group announced Monday a takeover bid for Norwegian oil and gas group Revus Energy ASA that values it at 581 million euros (726 million dollars).
The BASF oil division, Wintershall, offered 110 Norwegian kroner per share, a premium of 145 per cent above the closing price in Oslo last Friday and 44 per cent above the average of the past six months.
An announcement at Wintershall's office in Kassel said the board of Stavanger-based Revus had recommended shareholders accept the bid for all Revus shares.
Oslo - Two employees of Norway's largest banking group as well as the DnB NOR group itself were Thursday suspected of insider- trading, the Norwegian Financial Supervisory Authority said.
The Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime raided the bank Thursday over suspicions that the bank had sold government bonds just a few days before the Finance Ministry and central bank October 12 presented a rescue package for the banking sector.
DnB NOR reportedly sold bonds worth 2.3 billion kroner (328 million dollars) on October 9 and 10.
Oslo - British actor Michael Caine is to co-host the upcoming Nobel Peace Prize Concert along with US actress Scarlett Johansson, organizers said Wednesday.
Kassel, Germany - Germany's BASF chemicals and oil group announced Monday a takeover bid for Norwegian oil and gas group Revus Energy ASA that values it at 581 million euros (726 million dollars).
Oslo - Two employees of Norway's largest banking group as well as the DnB NOR group itself were Thursday suspected of insider- trading, the Norwegian Financial Supervisory Authority said.
