The owners of Scandinavia Online, Schibsted Multimedia AS, Telia AB and Nextra AS (Telenor) have signed the definitive agreement for the formation of the largest portal network in the Nordic countries, Scandinavia Online. Prior to the public listing of the company, Schibsted will own 50%, Telia 25% and Telenor 21% of the share capital of the company, with the balance of approx. 4% held by third parties and employees.

A listing for the company on the Stockholm Stock Exchange is planned 2nd . or 3rd. quarter this year. At the time of the listing, Telia will purchase 5% of the shares from Schibsted. No further sale of shares among the owners is planned.

The Board of Directors of the new Company will initially consist of Sverre Munck and Trond Berger from Schibsted, Jan Rudberg, Telia and Jan Moberg, Nextra, in addition to an employee representative. The board will be supplemented by 2-3 external members within the near future.

Scandinavia Online has appointed Thomas Ranje (30) as Chief Financial Officer. Ranje joins the company from the Corporate Finance Department of the Carnegie Group, where he has served in Stockholm and Oslo. Ranje holds a Master of Science in Financial Economics and Accounting from the Stockholm School of Economics.