Divestment of ownership in ABC Startsiden AS

Schibsted ASA (SCH) , Published 14/12/2006 15:38:48

Schibsted has entered into an agreement with Telenor Telecom Solutions concerning a sale of the shares the Group holds in ABC Startsiden AS for NOK 81 million. The shares are equivalent to 16.6% of the total share capital in the company. The accounting gain for Schibsted will be approx. NOK 70 million.
At the same time, Schibsted and Telenor have decided to withdraw the legal dispute between the companies and are looking forward to a continued good business relationship.
The transaction is expected to be completed before the end of the year
CFO in Schibsted Trond Berger, telephone + 47 916 86 695
Oslo, December 14th, 2006