Telenor chairman Norvik quits over TV2 sale controversy

Telenor chairman Harald Norvik has resigned over a disagreement with the Norwegian ministry of trade and industry over the sale of its stake in the TV2 channel to Danish company Egmont earlier this year.

Telenor agreed to sell its 48.2% stake in A-Pressen to Egmont in January, giving the latter control of the channel. Norwegian trade and industry minister Trond Giske was strongly opposed to the deal.

“The Minister of Trade and Industry, Mr Trond Giske, representing the majority shareholder in Telenor ASA, today expressed a lack of confidence in the chairman of Telenor, following the handling of the TV2 issue in January this year. I have therefore decided to step down as chairman in Telenor,” said Norvik, who will continue in his post for now until a replacement has been chosen.