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Telenor Buys Pannon

Telenor, Norway's largest telecommunications operator has purchased 100 per cent of Pannon, Hungary's second largest mobile phone operator for E1bn, as stated by the Financial Times Europe. "The acquistion of Pannon will enhance our strong portfolio of mobile companies outside Norway. Pannon is a particularly attractive company in a market with excellent growth prospects", says Jon Fredrik Baksaas, deputy chief executive at Telenor.