OSLO, Norway, March 19, 2003 (PRIMEZONE) -- Telenor (Nasdaq:TELN) has entered into an agreement to sell Nextra Italy to the Italian quoted company Tiscali. The value of the transaction is Euro 2.4m (19m NOK), to be paid in new Tiscali shares. The sale is a result of Telenor's strategy to improve profitability through focus on core activites and markets.