August 22, 2019 / 3:32 PM / 4 months ago

Norway's Telenor hit by tax reassessment expense of 2.5 bln Norwegian crowns

OSLO, Aug 22 (Reuters) - Norway’s Telenor received a tax reassessment order for its 2013 tax year, under which it will need to record an additional tax expense of about 2.5 billion Norwegian crowns ($278.44 million), the firm said on Thursday.

“Telenor ASA received a reassessment order disallowing deduction for the loss Telenor ASA suffered in 2012 due to settlement of bank guarantees given in respect of external funding in its Indian subsidiary Unitech Wireless,” it said. ($1 = 8.9785 Norwegian crowns) (Reporting by Lefteris Karagiannopoulos Editing by Alexandra Hudson)

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