In 2002, Telenor entered into an MVNO agreement (Mobile Virtual Network Operator) with Tele 2 to purchase mobile network capacity in Sweden, as an alternative to a service provider agreement. The MVNO agreement is partially a fixed price agreement. As a consequence of the revised expectations of the usage of the capacity in the MVNO agreement, Telenor expensed NOK 562 million as loss on this contract in the fourth quarter of 2004. In addition, Telenor made a write-down of fixed assets in Sweden by NOK 75 million.
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Chief Press Spokesman Dag Melgaard, tel (+47) 67 89 26 71 or (+47) 901 92 000