Norway government will abandon right to cut Telenor stake

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)