The transaction will provide Telenor with total sales proceeds of £ 75.1 million and a financial gain of £ 74.4 million. The sale represents 4.8 percent of the share capital in Inmarsat. After the transaction Telenor owns 4.6 percent of Inmarsat of which there is a lock up until the earlier of Inmarsat's release of preliminary results for 2005 and 120 days after 31. December 2005.
Contact: Scott Engebrigtsen, Head of Information at Telenor ASA, tel +47 90 04 34 84