More Orkla speculations

Orkla Media's employees have been mobilising heavily against a possible sale of the company to British Mecom this week. They have expressed great concern about Mecom's behaviour in Germany, but equally about the prospect of getting a British proprietor – in fact they have stated that they would prefer any Norwegian, or even Nordic, solution to one involving unreliable foreigners.

The City is betting that Mecom will emerge as the winner from this convoluted and drawn out sales process, but I think it's becoming increasingly doubtful if Stein Erik Hagen, Orkla's chairman, can withstand all the negative press and exposure. He has previously worked hard to position himself as a 'benevolent capitalist', e.g. by contributing financially to his local community, and being cast as someone who is willing to 'throw the Norwegian Enlightenment project' over board for personal profits might not sit very well with him.

Orkla Media's employees have mounted a very effective PR-campaign: if they have it their way, and Orkla goes through with the sale, Orkla's board will go down in history as the capitalist crooks who sold out to foreigners. Who sold, not just a Norwegian factory – which would have been bad enough as it would have been condemned as 'gambling with Norwegian industrial jobs' – but a vital part of Norway's democratic heritage to foreigners who ruthlessly will turn these vehicles of democratic enlightenment into short-term cash machines for the benefit of their own pockets.

Today Norway's biggest financial daily, speculates that Hagen may oppose the sale to Mecom and champion a solution which would see the Danish and Polish newspapers sold but not the Norwegian. N24 on the other hand,  writes that Orkla has decided to get out of the media industry all together and is considering a solution where the Danish and Polish operations will be sold, and the Norwegian media group listed on the stock exchange