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Seadrill Ltd sues Oslo Stock Exchange and Norwegian state for NOK850m.

NORDIC BUSINESS REPORT-12 June 2007-Seadrill Ltd sues Oslo Stock Exchange and Norwegian state for NOK850m(C)1994-2007 M2 COMMUNICATIONS LTD

Norwegian stock exchange operator Oslo Bors ASA confirmed on Monday evening (11 June) it has been sued for damages by the rig operator Seadrill Ltd.

The matter relates to a dispute over Seadrill's duty to make a mandatory offer for Eastern Drilling ASA.

"The proceedings are issued against Oslo Bors and the Norwegian State as represented by the Ministry of Finance. The proceedings allege that the Norwegian State and Oslo Bors are jointly and severally liable for damages with an upper limit of NOK850m," Oslo Bors said in a brief statement.

"Oslo Bors does not believe that there are any grounds for a claim for damages, and will defend the proceedings," Oslo Bors added.

One British pound (GBP) is worth approximately 11.93 Norwegian kroner (NOK).

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Publication:Nordic Business Report
Article Type:Brief article
Date:Jun 12, 2007
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