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Telenor sells 5.1% stake in Veon, sees NOK 2.9 bln proceeds in Q3

2017-09-21 09:49:00| Telecompaper Headlines

(Telecompaper) Telenor said it is continuing the sale of its interest in Veon, formerly known as Vimpelcom. It is offering 5.1 percent of Veon's total outstanding common shares, leaving Telenor with about 256.7 million ADS, or about 14.6 percent of Veon's common shares. The underwriters have priced the 90 million common shares and ADS in the offering at USD 4.15 each, giving net proceeds of USD 365 million (around NOK 2.9 billion), which will be included in Telenor's third-quarter cash flow statement.

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Category:Telecommunications

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