Onetwocom Buys Telenor Link For SEK13 Million In Shares

STOCKHOLM -(Dow Jones)- Swedish mobile telephony service provider Onetwocom, Tuesday said it has agreed to buy Telenor Link from Telenor Venture IV for 5.68 million of its own shares, valued at SEK13 million.

The company said it will use the acquisition to expand its mobile service offering to businesses.

Telenor Venture IV is majority-controlled by Norwegian telecommunications operator Telenor.

Telenor Link distributes communications services, including short messaging service, or SMS, multimedia messaging service, or MMS, and e-mail.

"Mobile services is an exciting area with great potential and strong growth", said Onetwocom Chief Executive Michael Freudenthal. "We expect to make more acquisitions in the future," in mobile telephony.

As a result of the deal, Telenor Venture IV will become Onetwocom's largest shareholder, with 8% of shares and voting rights. It will also get a seat on the board.

Company Web site: http://www.onetwocom.com

-By Johan Carlstrom, Dow Jones Newswires; +46 8 545 130 99; johan.carlstrom@dowjones.com

(END) Dow Jones Newswires "

Posted to the site on 27th June 2006