It is apparently full divisions in Telenor, where the chairman of the board Gunn Wærsted, according to the DN should have tried to get rid of the president and ceo Sigve Brekke – without having found support in the separate board. Who will come victorious out of the dragkampen, is now up to the company’s owners.
the Ownership of Telenor is dominated that the state, which has a share of around 54 per cent through the Ministry of industry. From here, there have been relatively abject, despite the latest turmoil.
“Næringsministeren trust to the sitting chairman of the board and the board of directors. We have in all companies where we are the owner”, is the brevity of the message conveyed by the head of communications Trond Viken via the NTB.
the Second-largest shareholder is also a state enterprise. The government pension fund norway, which sits at around five per cent of the shares, do not want to comment on the case.
The other aksjonærlisten is otherwise dominated by different types of funds. Some of these are more outspoken.
– No trust
I have no any confidence to Sigve Brekke, and seem development in the Telenor witnesses that the market does not have very great confidence in him, ” says Jan Petter Sissener to E24.
In the last month was Telenor drawn forward as one of the negative contributors in the fund Sissener Canoups.
Sissener tells us that they now have limited exposure in Telenor, which first and foremost reflects their view on the industry future prospects.
Professorer: Either Break or Wærsted is finished in Telenor
The profile manager believes that the largest shareholders now are going to have to support Gunn Wærsted, given that her appointment was broadbased.
– in General, the state must exercise its ownership as any other professional owner, and take into consideration that there are other shareholders. They must be careful to exercise their eiermakt. In each case, in contested questions, it is important that they get with the other shareholders, ” says Sissener.
Jan Petter Sissener
Friday, enter the DN that the Telenor shareholder Danske Capital, Norway has asked the corporate assembly to grasp in the conflict.
Noise
portfolio manager and analysis supervisor Roger Berntsen is also among the Telenor-owners through the fund Netfonds Xtra, which has an estimated 30 million invested in the phone company.
Netfonds is undervektet Telenor relative to the Oslo stock Exchange, but it is not directly related to the turmoil that has been in the board and management.
– The most important for Telenor is the underlying market. It is not good, and have not been good at for quite a while, ” says Berntsen to E24.
Berntsen, however, shows that there has been noise in the company for a while, relating to, among other things korrupsjonssaken in work at vimpelcom, the so-called CV-matter and the abrupt departure of Svein Aaser as chairman of the board.
Over time one can not have this type of noise in a company. Someone must give in, and ultimately it is the owner that determines the outcome, ” says Berntsen.
Roger Berntsen
the Owner has selected a board of directors with a chairman, who in turn have selected a chief. If there is unrest between the Break and the parts of the board, this is not something the owner can live with. Therefore, this is a eierproblem.
Think the Break will disappear
Berntsen believe that there will come a decision in the matter no later than at the annual general meeting next year, and that it all will end with that Break off, get a severance package.
basically means it is not so much what Break had to say, or what Wærsted and the board might mean. It is a situation that only the owners will determine the outcome of, ” says Berntsen.
If Netfonds had been the majority shareholder in Telenor, had it been the date set for the replacements in the board of directors. Berntsen raises questions about whether state ownership is as strong as it should be, and if the state ownership is exercised in a bad way.
– Perhaps it needs to be redefined or clarified more clearly that the state, which is a big owner, also have to be a hard owner who takes into account the minority shareholders in a greater degree. Then it can also get something positive out of this, ” says Berntsen.
Despite the turmoil, the Telenor share has risen through the last few days. It is up almost five per cent, for the past week as a whole.
Over some time has not, however, Telenor has made it particularly good on the stock exchange. The current year is the stock down more than 11 per cent.
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