Telenor's Acquisition of Utfors Approved

STOCKHOLM -- The agreement between Telenor and UtforsAB has been given final approval by the Swedish Competition Authorityand today's extraordinary General Meeting of Utfors. The transactionsees Telenor becoming the main contender in the Swedish market forbusiness communications. The integrated company will have Norwegian CEOand Norwegian Chairman.Telenor concentrates its business market activities in Sweden in one newcompany, consisting of the integrated Telenor Business Solutions AB andUtfors AB. The integration planning has been in progress on differentlevels within the companies, creating the foundation for a swift andsmooth integration, the objective being that all parts of the neworganisation is ready shortly.Bjørn Johan Flakstad is to become new CEO of Telenor's business marketactivities in Sweden, after heading up Telenor-owned Hungarian mobileoperator Pannon. "I look forward to be heading Telenor's strongcommitment in the Swedish business communications market, and tocontinue the positive development within Telenor Business Solutions andUtfors over the last years. We will be able to offer prime solutionswithin both telephony and data communications," says Bjørn JohanFlakstad.Both current CEO at Telenor Business Solutions AB Lars Persson, andUtfors CEO Jan Werne will step down as of 18th of December."Utfors' position as a contender and innovator in the Swedish broadbandmarket, from start-up to the listing on the stock exchange, has beenbuilt up impressively by Jan Werne over the past years. Utfors' uniqueinfrastructure and competence within data communications, complementedwith Telenor's strong position, give us exciting opportunities, saysJan-Edvard Thygesen, new chairman of the board for Telenor's businessmarket activities in Sweden.

Telenor ASAUtfors AB