Telenor declined to comment a Reuters report that said the company was close to an asset swap deal with Russia's Alfa Group to settle a dispute over co-owned mobile operations.
Reuters reported that under a preliminary deal, Alfa Group would hand over its 43.5% stake in Ukrainian operator Kyivstar to Telenor and that Telenor would give Alfa 12 % of the voting stock in Russian operator Vimpelcom.
Telenor's spokesman Dag Melgaard said the company had no reason to inform the market of any developments affecting its shares, which the bourse briefly suspended after they surged on the report based on an anonymous source.
'If there had been, we would have notified the stock exchange immediately,' Melgaard said. 'If there are things to report, we will report it.'
'We never comment on speculation or rumours,' he said.
He said Telenor did not plan to make any statement and had informed the Oslo bourse of that after the exchange halted trade in the stock.
'We explained that we have nothing to notify the stock exchange about,' he said.