Norway to Take First Steps Towards Cutting State Ownership

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Norway to Take First Steps Towards Cutting State Ownership


Category: Government

Norway’s centre-right government, in power since October, is committed to reducing the state’s role in the economy, which includes selling off part of the stakes its holds in some companies.

A government white paper would be the first step in the political process to reduce the stakes.

“I hope that we can present a white paper on (state) ownership in the spring,” trade and industry minister Monica Maeland told Reuters on the sidelines of a visit to the Oslo stock exchange.

“The spring is approaching fast. But that is the plan.” She declined to give further details.

The government has stakes in most big Norwegian companies, including oil firm Statoil, aluminium producer Norsk Hydro, bank DNB, fertiliser maker Yara and telecoms firm Telenor.

Other smaller firms it has stakes in include fish farmer Cermaq, property firm Entra and energy company Statkraft, Europe’s biggest producer of renewable energy.

Source: Reuters

Published: June 26, 2024