New report to the Storting on state ownership: the majority of the authorisations to sell will remain in place
Historical archive
Published under: Solberg's Government
Publisher: Ministry of Trade, Industry and Fisheries
Press release | Date: 22/11/2019
The Government is not asking the Storting for new authorisations to reduce the state’s ownership. The framework for the state’s exercise of ownership has remained unchanged since the early 2000s, and will continue to apply.
Today, at noon, the Government will present a new report to the Storting (white paper) on state ownership, and an announcement will be made simultaneously. Information about the state's authorisations to reduce its ownership is stated below.
The Government has been authorised by the Storting to reduce the state's ownership, in whole or in part, in Ambita AS, Baneservice AS, Mesta AS and Entra ASA. These authorisations will remain in place. The state’s ownership in Entra has already been reduced through stock exchange listing and sale of shares.
In connection with the national budget for 2020, the Government has asked the Storting to authorise the full or partial sale, or dissolution, of GIEK Kredittforsikring AS.
It is an option to reduce the state's ownership in other companies, for example if state ownership is no longer necessary. In such a case, the Government will present the matter to the Storting.
The state’s ownership would only be reduced if this is seen as financially favourable for the state. How and when reductions are executed, will depend on the company’s situation and market conditions.
The authorisation concerning Telenor will not be prolonged
The Government has since 2015 had the authorisation to reduce the state's ownership in Telenor ASA from 53.97 to 34 percent.
–The authorisation has not been utilised and, based on an overall assessment, the Government sees no need to extend it, says Minister of Trade and Industry Torbjørn Røe Isaksen.
The state's rationale for its ownership of Telenor is to maintain a leading technological and industrial company with head office functions in Norway. The state’s goal as an owner is the highest possible return over time.
In the event that industrial transactions are proposed, which could result in a reduction in the state's ownership interest, the Government will consider this in a normal manner and, if relevant, present the matter to the Storting.