SPH sells entire 701Search stake to Telenor ASA for US$109m
SPH, Norway's Schibsted and Telenor currently own equal shares in 701Search; Schibsted will also sell its interest to Telenor
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Singapore
SINGAPORE Press Holdings (SPH) said on Friday it is selling its entire one-third stake in 701Search Pte Ltd to Norway's leading telecommunications operator Telenor ASA for about US$109 million.
A conditional agreement to this effect was entered into by SPH's wholly-owned subsidiary SPH Interactive International Pte Ltd (SPHII) with Telenor Communications II AS.
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