Montgomery has succeeded with his Norwegian conquest

After months of negotiation, speculation and passionate debate, the deal between Orkla and Mecom has finally been signed, and one of Norway’s largest media companies is set to become British. The deal is expected to be finalised in September/October.

In this morning’s press release Montgomery said: “I welcome the employees of Orkla Media and look forward to working with them to develop Orkla Media’s strong titles.” After the deal was announced though, Orkla Media’s employee representatives said their next move would be to seek independent advice on how to negotiate the redundancy packages they expect to follow in the wake of Mecom’s takeover.

However, the market seemed to welcome a resolution to a prolonged and very public sales process, and Orkla shares rose by 0.91 per cent in today's trading.