Schibsted ASA increases holding in Bergens Tidende AS to 52.8%

Nordic Business Report-September 27, 2006-Schibsted ASA increases holding in Bergens Tidende AS to 52.8%
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The Norwegian media group Schibsted ASA said on Wednesday (27 September) that it has agreed to acquire 443,754 shares of the regional newspaper publisher Bergens Tidende AS from Orkla Media AS.

Schibsted is paying NOK472m for the shares, which represent 28.5% of the share capital of Bergens Tidende.

The transaction brings Schibsted's total holding in Bergens Tidende to 52.8%.

Schibsted also said that it has entered into an agreement to acquire the same amount of shares, at the same price, from Roll Severin AS.

The latter transaction will be effected after the creation of the newspaper alliance Media Norge group, in which Bergens Tidende will participate.

One Norwegian krone (NOK) is worth approximately 0.08 British pounds (GBP).

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