Telia’s (SE) acquisition of NetCom ASA (NO) — NOK 22.5 billion

Carnegie acted as sole adviser to Telia in the acquisition of approximately 51 per cent of the Norwegian mobile operator NetCom ASA. The shares were sold by SEC, Orkla and KLP Forsikring, among others. Telia acquired the remaining shares outstanding in NetCom ASA through a cash bid corresponding to NOK 470 per share. June, 2000.