OSLO, Norway, July 10 2001, (PRIMEZONE) -- Canal+ Group and Telenor (Nasdaq:TELN) has decided to reorganize the relationship in the Nordic countries. Telenor has acquired the remaining 50% stake in Canal Digital AS from Canal+ for a consideration of Euros 300 million, of which Euros 63 million is a deferred payment. Canal+ and Telenor have also signed a long-term exclusive distribution agreement for Canal+ premium pay -- TV channels and the Kiosk pay-per-view service on Canal Digital's platform.
Telenor and Canal+ will hold a press conference in the auditorium in Telenor Expo, Universitetsgaten 7 in Oslo today, Tuesday July 10, at 14:00.
CEO Tormod Hermansen and Executive Vice President in Telenor Broadband Services, Stig Eide Sivertsen, will inform about background for the acquisition. Canal+ will be represented by Charles Bornot, CEO Canal+ Nordic, and Bente Klemetsdal, Marketing Director, Canal+ Nordic, and Country Manager for Norway.