Alpha Corporate Finance has advised Network Norway in the court of arbitration

Network Norway AS has been awarded NOK 150m in compensatory damages from Ventelo/Bredbåndsalliansen in an arbitration award from June 2010. The dispute began following Bredbåndsalliansen AS’ acquisition of Ventelo AS in December 2007. Network Norway AS had an agreement to acquire Ventelo’s mobile operations from Bredbåndsalliansen, in exchange for cash and shares in Network Norway. The transfer of the mobile operations never took place and Ventelo/Bredbåndsalliansen has as a consequence been sentenced to pay compensatory damages to Network Norway.

Alpha Corporate Finance has acted as financial advisor and expert witness to Network Norway and its key owners Orkla, Hafslund and Katalysator in the arbitration process.

Network Norway is the third largest mobile operator in Norway with more than 440 000 subscriptions including the brands One Call and Lebara. Network Norway and Tele2 are currently building Norway’s third mobile network together. Network Norway generated NOK 1,7bn in revenues in 2009 and the main owners are Orkla, Hafslund Venture and Katalysator.