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State to loosen grip on DnB

The government may sell almost half its shares in Den norske Bank (DnB) as early as March, though a portion of the planned privatisation may be delayed until the fall, according to Aftenposten. The state currently owns 60.5 percent of the concern, which also encompasses Postbanken and the Vital insurance company. The parliament decided last year that the state should reduce its ownership stake to 34 percent. If DnB’s current stock price holds steady until March, the planned sale could net the state USD 1.1 billion (NOK 10 billion). The bank’s stock price has risen 50 percent his year.