Norway minister back in PM’s doghouse / News / The Foreigner

Norway minister back in PM’s doghouse. EDITORIAL: Trade and Industry Minister Trond Giske (T.G.) will not be phoning home for a while after being called to heel about this week’s TV2 sale, twice. Like what happens with enthusiastic pooches’ leads when out for their walks, the matter has many twists, turns, and was a debacle. Media company A-pressen sold Norwegian TV2 to Danish company Egmont last week. Egmont has been TV2 co-owners since the broadcaster started in 1991, with pre-emptive purchase rights to A-pressen’s shares.

trondgisketv2sale, trondgisketelenor



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Norway minister back in PM’s doghouse

Published on Monday, 16th January, 2012 at 12:57 under the news category, by Michael Sandelson   .
Last Updated on 16th January 2012 at 14:39.

EDITORIAL: Trade and Industry Minister Trond Giske (T.G.) will not be phoning home for a while after being called to heel about this week’s TV2 sale, twice.

Trade and Industry Minister Trond Giske
Trade and Industry Minister Trond Giske
Photo: NHD-INFO/Flickr


Like what happens with enthusiastic pooches’ leads when out for their walks, the matter has many twists, turns, and was a debacle.

Media company A-pressen sold Norwegian TV2 to Danish company Egmont last week. Egmont has been TV2 co-owners since the broadcaster started in 1991, with pre-emptive purchase rights to A-pressen’s shares.

A-pressen’s TV2 sale prompted a need for capital to finance last year’s purchase of Edda Media from London-based Mecom Group PLC. 

Telenor and the Norwegian Confederation of Trade Unions (LO) own 48 percent of A-pressen; the Norwegian state owns 54 percent of Telenor but cannot instruct the company due to government ownership policy, formulated by Trond Giske.

Minister Giske did not want the A-pressen/TV2-Egmont sale to happen, reportedly threatening Telenor’s board he would be snapping at its heels should the transaction proceed. There were phone calls, text messages, meetings; an evening at licensed establishment ‘Lorry'.

Several tail, rather than lorry, chasings later TV2 remains sold. Labour Prime Minister Jens Stoltenberg has advised everyone to calm down.

Moreover, the PM ordered Giske.to sit on two occasions for barking up the wrong tree, firstly by calling to rap him on the knuckles following complaints from LO and Telenor leaders over his actions.

Over-keen minister Giske said he never knew about the sale and Egmont’s decision to use their pre-emptive share purchase rights. These were disclosed at least three months prior to the transaction.

On the second occasion, an official sent an SMS authored, and subsequently made public, by Giske. alleging the government was to look into the sale issue.

The PM had already declared no opinion would be expressed about the matter to avoid affecting the companies involved. One of Prime Minister Stoltenberg’s deputy ministers did the honours this time, contesting what Giske claimed.

Whilst minister Giske’s Labour Party (Ap) colleagues alleged he is the victim of a smear campaign, it now looks as though he is staying, however.

Either the country has gone to the dogs, or the whole episode is a classic example of a dog’s dinner.



Published on Monday, 16th January, 2012 at 12:57 under the news category, by Michael Sandelson   .
Last updated on 16th January 2012 at 14:39.

This post has the following tags: trondgisketv2sale, trondgisketelenor.





  
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