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. Last Updated: 07/27/2016

Sweden-Norway Deal

OSLO, Norway -- The state telephone companies of Sweden and Norway on Wednesday announced plans to merge in a bid to meet growing competition following the deregulation of Nordic telephone markets. The new company will be partly privatized by the end of 2000.

A merger between Sweden's Telia and Norway's Telenor would create one of the Nordic countries' largest companies, worth about $20 billion. Sweden will own 60 percent and Norway 40 percent of the company.