OSLO, Norway, Oct. 9, 2002 (PRIMEZONE) -- The Central Tax Office for Large Enterprises has notified Telenor (Nasdaq:TELN) that it will suggest to its Assessment Board that the 2001 tax return for Telenor Communication AS, a Telenor Group company, may be challenged in respect of this company's sale of its shares in Sonofon Holding A/S to Dansk Mobil Holding AS, another Telenor Group company.
If the tax return is challenged in this respect, Telenor Communication AS will initially not get recognition for a taxable loss of NOK 8.6 billion with the corresponding effect that its corporate income tax liability for 2001 will increase with NOK 2.4 billion. Telenor is of the opinion that there is no basis for challenging the tax return. A potential decision by the Assessment Board to challenge the tax return will be appealed.