Thrane & Thrane to Breach Agreement With Nera
December 11, 2001
Nera ASA has been informed that Thrane & Thrane will not close the agreement relating to the sale of the Nera SatCom AS. Based on this, Nera has considered taking legal action.
Nera CEO Bjorn Ove Skjeie said: “Nera’s percetion is that this is regarded as a clear breach of agreement. We consider it to be very serious that Thrane & Thrane breach an agreement which both is signed and approved by the board of directors, and which expressly obliged them to work actively to give effect to the agreement.”
Skjeie regrets that the planned merger will not be carried through, as this would have been a good industrial solution.
Nera SatCom will now continue as a wholly owned Nera Group company. Terje Ask-Henriksen, president of Nera SatCom states, “Nera Satcom will now focus on continued development of the company as a leading and profitable unit, with a focus on mobile satellite communications.”
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