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Oslo/ Milan (pte027/19.03.2003/13:01) - Norwegian telecom, IT and media company Telenor http://www.telenor.com announced today it has sold its Italian ISP subsidiary Nextra Italy http://www.nextra.it . The new owner is Tiscali http://www.tiscali.it , which has paid for Nextra with new shares worth 2.4m euros.
In today's official press release Telenor called the sale the "result of a strategy to focus on core business and increase the profitability of core markets".
At the end of January Telenor sold Nextra Austria http://www.nextra.at to Jordan Industries subsidiary AirCall. When the takeover was announced on 28 January, the company said the change would not affect Nextra's 60 employees, but the next day 35 employees were released.
Analysts predict Telenor will also sell its remaining Nextra subsidiaries in the Czech Republic http://www.nextra.cz and Slovakia http://www.nextra.sk once suitable buyers have been found.
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