BellSouth Sells its Share in Danish Carrier to Telenor

BellSouth agreed to sell its 46.5% interest in the Danish wireless provider, Sonofon, to Telenor for approximately US$600 million. Telenor currently owns 53.5% of Sonofon and shares joint control of the company with BellSouth. The deal is expected to close by the first half of 2004, pending regulatory approval by the Danish Telecom Agency and the appropriate European authorities. Upon closing, BellSouth expects to record an after-tax gain of approximately $285 million in the first half of 2004.
http://www.bellsouth.com