04-Apr-2011 3:44 PM
SAS shares up 3.3% as Norwegian Government decides to sell stake
Analysis
Norwegian Government announced it has decided to sell its 14.3% stake in SAS Group, under a plan to revise state ownership across 52 companies. On Friday, the Norwegian Minister of Trade and Industry, Trond Giske, sought parliamentary approval to sell the stake in the carrier. The governments of Sweden and Denmark also hold stakes in the carrier, controlling 21.4% and 14.3%, respectively.
Summary
- Norwegian Government plans to sell its 14.3% stake in SAS Group as part of a wider revision of state ownership in 52 companies.
- The governments of Sweden and Denmark also hold stakes in SAS Group, controlling 21.4% and 14.3% respectively.
- European airline shares, including Finnair and easyJet, experienced a decline in their daily share prices.
- The decision to sell the stake in SAS Group requires parliamentary approval in Norway.
- The sale of the stake in SAS Group is part of the Norwegian Government's strategy to reduce state ownership in various sectors.
- The announcement of the stake sale had a negative impact on the overall performance of European airline shares.
