Norwegian economic news agency, E24, reported Telenor to drop its voluntary stock offer to all shareholders of dtac and True as the fusion of the mobile phone companies is expected to still be a long way off.
Chief Information Officer of Telenor, David Fidjeland, said the consequence of haulting the VTO (Value to Owner) is to give shareholders a possibility of freely choosing to sell their stocks or continue as shareholders in the new company which will also be quoted at the stock market.
– Telenor believes in the benefits of merging dtac and True and continues to support the project. Telenor and CP Group are still aiming at an egalitarian share of ownership of around 30% of the merged company. VTO is independent of the merging itself why the parties will continue to evaluate, said Fidjeland to E24.
