Norwegian state telecoms operator Telenor said today it had broken off talks with US group SBC Communications regarding SBC's 41.6 per cent stake in Danish telecoms operator TeleDanmark.
"Telenor has decided not to continue the talks with SBC regarding SBC's stake in TDC (TeleDanmark)," the Norwegian group said in a note to the Oslo Stock Exchange.
Telenor provided no explanation, but according to the Financial Timesnewspaper today, TeleDanmark could not agree with SBC Communications, its largest shareholder, over its future.
On Wednesday, Telenor said it was in talks with SBC concerning its stake in TeleDanmark, leading to rumours of possible Telenor-TeleDanmark tie-up.
A 50-50 merger would have created a company worth more than euro 18 billion.
AFP