Telenor signed a final share purchase agreement to acquire Pannon GSM, in September 2001, subject to regulatory approval. The final regulatory clearance was received on 22 January 2002 and Telenor has now completed the acquisition. The purchase price for the shares will be Euro1,002 million to be financed from existing credit lines. Telenor will consolidate Pannon GSM in its financial accounts from 4 February 2002.