Telenor has sold its head office in Oslo

Telenor’s head office in the centre of Oslo comprises buildings with a total area of approximately 45,000 m2, including the block formed by Keysersgate 13 -15, Munchsgate 4 and Universitetsgata 2. The buildings mainly consist of office premises. The sale is part of the plan to gather all Telenor’s business in its new head office at Fornebu in 2001/2002.

The sale of Telenor’s present head office in the centre of Oslo is subject to the Board’s approval. According to plans, the sale will be completed by the end of the year. Telenor will then rent the building for approximately 1 ½ years until all its business has been moved to Fornebu.

The sale gives Telenor a gain of approximately 300 million kroner, which will be recognised in the income statement in the fourth quarter of this year.