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Fornebu (pte059/28.01.2003/12:51) - The Norwegian IT and media company Telenor http://www.telenor.no is selling its Austria subsidiary, the internet access provider Nextra, to the US group Jordan Industries. The US group will take over Nextra by the end of the week for a sum believed to be between two and four million euros, the equivalent of about half the company's annual turnover. Jordan Industries owns shares worth an estimated billion dollars in around 100 companies around the world, including companies in the telecommunications, printing and automotive parts sectors. The Norwegian government owns 77.63 per cent of the shares in the highly profitable Telenor group, which operates in twelve countries in Europe and Southeast Asia. The Telenor group also owns 17.65 per cent of the shares in the Austrian mobile net provider Connect Austria, but has been trying to sell its share in the company for some time.
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