Norway government will abandon right to cut Telenor stake

Norway government will abandon right to cut Telenor stake
FILE PHOTO: Telenor's logo is seen in central Belgrade, Serbia, March 21, 2018. REUTERS/Marko Djurica -
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OSLO (Reuters) – Norway’s centre-right government will give up its right to sell a 20% stake in telecoms operator Telenor <TEL.OL>, it said in a statement on Friday.

Parliament authorised a plan in 2015 to allow the government to reduce its ownership in the group to 34% from the current 54%, but no action was taken to proceed with a sale.

(Reporting by Terje Solsvik; Editing by Edmund Blair)

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