President Solberg received a list of unknown share deals the week before the election

By VG - EILIV FRICH FLYDAL - MARTHA CS HOLMES - BJØRN HAUGAN - 18 September 2023 04:19 By VG - EILIV FRICH FLYDAL - MARTHA CS HOLMES - BJØRN HAUGAN - 18 September 2023 04:19By VG - EILIV FRICH FLYDAL - MARTHA CS HOLMES - BJØRN HAUGAN - 18 September 2023 04:19 By VG - EILIV FRICH FLYDAL - MARTHA CS HOLMES - BJØRN HAUGAN - 18 September 2023 04:19

A share list Erna Solberg (H) received the week before the election showed that the explanation she had given to voters about her husband's share purchase was wrong. She didn't say that until after the election.A share list Erna Solberg (H) received the week before the election showed that the explanation she had given to voters about her husband's share purchase was wrong. She didn't say that until after the election.

The week before the election, Erna Solberg received a list from the newspaper E24 with 22 share deals Sindre Finnes had made. It showed that her husband when she was Prime Minister, had traded shares in several companies that she and the Prime Minister's Office (SMK) were not aware of. The week before the election, Erna Solberg received a list from the newspaper E24 with 22 share deals Sindre Finnes had made. It showed that her husband when she was Prime Minister, had traded shares in several companies that she and the Prime Minister's Office (SMK) were not aware of.

Most of the transactions were over NOK 100,000. Most of the transactions were over NOK 100,000.

This was completely contrary to what Erna Solberg herself had told the voters and the press: Namely that both she and SMK knew which companies Sindre Finnes invested in and could thus assess her competence. This was completely contrary to what Erna Solberg herself had told the voters and the press: Namely that both she and SMK knew which companies Sindre Finnes invested in and could thus assess her competence.

Thus, the explanation she had given voters in the election campaign was also not correct. Thus, the explanation she had given voters in the election campaign was also not correct.

Solberg received the list before the disclosure of the 22 share deals was published in E24 on 6 September, five days before the election. E24 then printed the list that Solberg had received a short time in advance. Solberg continued to insist that she had known enough about her husband's share trading. Solberg received the list before the disclosure of the 22 share deals was published in E24 on 6 September, five days before the election. E24 then printed the list that Solberg had received a short time in advance. Solberg continued to insist that she had known enough about her husband's share trading.

She also did not say publicly that there were several companies on the list that she and SMK had not been aware of. And that the explanation to the voters had thus been wrong. She also did not say publicly that there were several companies on the list that she and SMK had not been aware of. And that the explanation to the voters had thus been wrong.

In the following days, more than 280,000 people pre-voted. 1.4 million voters voted on election day. In the following days, more than 280,000 people pre-voted. 1.4 million voters voted on election day.

The Conservative Party won the election. The Conservative Party won the election.

Only four days after the election, on Friday 15 September, Solberg called a press conference where she told about her husband's share purchases and presented an overview of over 3,600 share transactions.Only four days after the election, on Friday 15 September, Solberg called a press conference where she told about her husband's share purchases and presented an overview of over 3,600 share transactions.

There she also said that Finnes had traded shares in companies she did not know, and that she had thus been disqualified in several cases as prime minister.There she also said that Finnes had traded shares in companies she did not know, and that she had thus been disqualified in several cases as prime minister.

Read the response from Erna Solberg's press manager press manager Cato Husabø Fossen further down in the case.Read the response from Erna Solberg's press manager press manager Cato Husabø Fossen further down in the case.

Had more optionsHad more options

In the election campaign, Solberg had repeated to the voters that both she and SMK knew about all the companies her husband Sindre Finnes traded in while she was prime minister from 2013 to autumn 2021.In the election campaign, Solberg had repeated to the voters that both she and SMK knew about all the companies her husband Sindre Finnes traded in while she was prime minister from 2013 to autumn 2021.

See Solberg during the press conference on 15 September:See Solberg during the press conference on 15 September:

Erna Solberg: - Serious breach of trust News · 15 September 0:59Erna Solberg: - Serious breach of trust News · 15 September 0:59

Thus, they could assess her competence in individual cases. It was not a problem that Finnes had traded shares.Thus, they could assess her competence in individual cases. It was not a problem that Finnes had traded shares.

On an election campaign tour with the press, and with constant questions about the share deals, Solberg had several opportunities to say that key parts of the explanation were incorrect.On an election campaign tour with the press, and with constant questions about the share deals, Solberg had several opportunities to say that key parts of the explanation were incorrect.

In E24's article about the 22 share deals on 6 September, Solberg's press manager Cato Husabø Fossen commented on the list with the new information as follows:In E24's article about the 22 share deals on 6 September, Solberg's press manager Cato Husabø Fossen commented on the list with the new information as follows:

- Erna had at all times sufficient information about which companies and industries Sindre Finnes had shares in, to be able to assess her own integrity or ask for further information if it were necessary to assess her integrity, Husabø Fossen replied.- Erna had at all times sufficient information about which companies and industries Sindre Finnes had shares in, to be able to assess her own integrity or ask for further information if it were necessary to assess her integrity, Husabø Fossen replied.

It was not mentioned that neither Solberg nor SMK had become aware that Finnes traded shares in several of the companies on the list.It was not mentioned that neither Solberg nor SMK had become aware that Finnes traded shares in several of the companies on the list.

A review by VG of the list shows that Solberg and SMK had only learned that Finnes traded shares in a small number of the eleven companies.A review by VG of the list shows that Solberg and SMK had only learned that Finnes traded shares in a small number of the eleven companies.

Most of the companies on the list Solberg received the week before the election have no trace of them. Among them are large listed industrial companies that have regular contact with the state.Most of the companies on the list Solberg received the week before the election have no trace of them. Among them are large listed industrial companies that have regular contact with the state.

On Friday 8 September, Solberg spoke again about her husband's share trading and her competence to E24. There were three days until the election.On Friday 8 September, Solberg spoke again about her husband's share trading and her competence to E24. There were three days until the election.

Despite the fact that the list she received two days before had shown several companies that she and SMK did not know about, Solberg only highlighted the few companies that were known to them in her reply:Despite the fact that the list she received two days before had shown several companies that she and SMK did not know about, Solberg only highlighted the few companies that were known to them in her reply:

- As long as you know enough to assess your competence or ask for further information when in doubt, there is no requirement that you must be notified of every single purchase or sale.- As long as you know enough to assess your competence or ask for further information when in doubt, there is no requirement that you must be notified of every single purchase or sale.

- It was therefore not necessary for me to know about minor purchases or sales in companies that both the civil service at the Prime Minister's office and I were already aware that Sindre had shares in, Solberg told E24.- It was therefore not necessary for me to know about minor purchases or sales in companies that both the civil service at the Prime Minister's office and I were already aware that Sindre had shares in, Solberg told E24.

At the same time, Solberg said that she had asked her husband to make a complete list of all share transactions while she was prime minister.At the same time, Solberg said that she had asked her husband to make a complete list of all share transactions while she was prime minister.

She also gave an interview to NRK the same day and answered what she thinks about the revelation.She also gave an interview to NRK the same day and answered what she thinks about the revelation.

- It is a larger scale than it has been..., as I have seen it before, said Solberg.- It is a larger scale than it has been..., as I have seen it before, said Solberg.

She did not say that there were companies on the list that she had not been familiar with.She did not say that there were companies on the list that she had not been familiar with.

VG sent Solberg two questions in the work on this case on Saturday:VG sent Solberg two questions in the work on this case on Saturday:

- Throughout the summer and autumn, cases of share trading with top politicians and their close associates have dominated the news. When you received information on 6 September that Sindre Finnes had traded shares differently from what he told you, contrary to SMK's messages and contrary to what you had told the public - why didn't you tell E24 or the public about it straight away ?- Throughout the summer and autumn, cases of share trading with top politicians and their close associates have dominated the news. When you received information on 6 September that Sindre Finnes had traded shares differently from what he told you, contrary to SMK's messages and contrary to what you had told the public - why didn't you tell E24 or the public about it straight away ?

- Why didn't you tell the truth to the voters before the local elections?- Why didn't you tell the truth to the voters before the local elections?

Solberg does not answer these questions to VG.Solberg does not answer these questions to VG.

VG was instead sent a statement from her press adviser Cato Husabø Fossen:VG was instead sent a statement from her press adviser Cato Husabø Fossen:

- Knowing today what we know about the extent of Sindre Finnes' share trading, Erna would of course wish she had asked for a complete overview earlier.- Knowing today what we know about the extent of Sindre Finnes' share trading, Erna would of course wish she had asked for a complete overview earlier.

- Even after E24's case was published, Sindre's explanation to Erna was that it was only in this short period of time in 2021 that he had resumed and engaged in short-term share trading, as he was advised against by the Prime Minister's office. Unfortunately, we now know that he was not telling the truth.- Even after E24's case was published, Sindre's explanation to Erna was that it was only in this short period of time in 2021 that he had resumed and engaged in short-term share trading, as he was advised against by the Prime Minister's office. Unfortunately, we now know that he was not telling the truth.

- As she also told NRK Dagsrevyen on Friday 8 September, this made it clear to her that the extent of the trade had been greater than she had been aware of.- As she also told NRK Dagsrevyen on Friday 8 September, this made it clear to her that the extent of the trade had been greater than she had been aware of.

According to Fossen, no one in the Conservative Party knew the total extent of Sindre Finnes' share trading until Wednesday 13 September. Finnes then handed over an overview to Solberg, which her closest colleagues also had access to. The rest of the party leadership and the working committee in the Conservative Party were briefed on the case on Thursday 14 September.According to Fossen, no one in the Conservative Party knew the total extent of Sindre Finnes' share trading until Wednesday 13 September. Finnes then handed over an overview to Solberg, which her closest colleagues also had access to. The rest of the party leadership and the working committee in the Conservative Party were briefed on the case on Thursday 14 September.

VG has asked Fossen Husabø for examples of Solberg clarifying that the list of 22 deals included completely new companies. He has not given that.VG has asked Fossen Husabø for examples of Solberg clarifying that the list of 22 deals included completely new companies. He has not given that.

The full statement from press advisor Cato Husabø Fossen:The full statement from press advisor Cato Husabø Fossen:

"Erna Solberg is not available for an interview at one hour's notice on Saturday evening. She held a longer press conference on Friday and gave a very thorough account of the case VG is taking up here."Erna Solberg is not available for an interview at one hour's notice on Saturday evening. She held a longer press conference on Friday and gave a very thorough account of the case VG is taking up here.

It was in the extension of the news story E24 published on the evening of Wednesday 6 September, about 22 specific trades that were made in the last four months she was prime minister, that Erna asked Sindre Finnes on Friday 8 September to make an overview of all her stock trades. Knowing today what we know about the extent of Sindre Finnes' share trading, Erna would of course wish she had asked for a complete overview earlier. It was in the extension of the news story E24 published on the evening of Wednesday 6 September, about 22 specific trades that were made in the last four months she was prime minister, that Erna asked Sindre Finnes on Friday 8 September to make an overview of all her stock trades. Knowing today what we know about the extent of Sindre Finnes' share trading, Erna would of course wish she had asked for a complete overview earlier.

Even after E24's case was published, Sindre's explanation to Erna was that it was only in this short period of time in 2021 that he had resumed and engaged in short-term share trading, as he had been advised against by the Prime Minister's office. Unfortunately, we now know that he was not telling the truth. Even after E24's case was published, Sindre's explanation to Erna was that it was only in this short period of time in 2021 that he had resumed and engaged in short-term share trading, as he had been advised against by the Prime Minister's office. Unfortunately, we now know that he was not telling the truth.

As these 22 deals were new information to her, Erna, as she herself said at the press conference, got a bad feeling and on Friday asked Sindre to make an overview of all deals during the period she was prime minister. As she also told NRK Dagsrevyen on Friday 8 September, this made it clear to her that the extent of the trade had been greater than she had been aware of.As these 22 deals were new information to her, Erna, as she herself said at the press conference, got a bad feeling and on Friday asked Sindre to make an overview of all deals during the period she was prime minister. As she also told NRK Dagsrevyen on Friday 8 September, this made it clear to her that the extent of the trade had been greater than she had been aware of.

The total extent of Sindre Finnes' share trading was unknown to anyone in the Conservative Party until Wednesday 13 September. Sindre then handed over an overview to Erna, which her closest colleagues also had access to. The rest of the party leadership and the working committee in the Conservative Party were briefed on the case on Thursday 14 September. The overview from Sindre Finnes was then published in connection with the press conference on Friday 15 September. The total extent of Sindre Finnes' share trading was unknown to anyone in the Conservative Party until Wednesday 13 September. Sindre then handed over an overview to Erna, which her closest colleagues also had access to. The rest of the party leadership and the working committee in the Conservative Party were briefed on the case on Thursday 14 September. The overview from Sindre Finnes was then published in connection with the press conference on Friday 15 September.

According to him, the time it took Finnes to prepare the overview reflects that there has been very extensive trading, over many years and from several different accounts, which he has spent time compiling. Among other things, according to him, his VPS account only goes back to 2019, and all information from before this has been extracted manually from the bank and settlement papers." Show moreAccording to him, the time it took Finnes to prepare the overview reflects that there has been very extensive trading, over many years and from several different accounts, which he has spent time compiling. Among other things, according to him, his VPS account only goes back to 2019, and all information from before this has been extracted manually from the bank and settlement papers." Show more

Error about Finnes' portfolioError about Finnes' portfolio

At the press conference on the Friday after the election, Solberg explained that she had no reason to suspect that her husband was engaged in short-term stock trading.At the press conference on the Friday after the election, Solberg explained that she had no reason to suspect that her husband was engaged in short-term stock trading.

She repeated several times that the part of Finnes' share portfolio that was visible in the public shareholder register did not change much from year to year.She repeated several times that the part of Finnes' share portfolio that was visible in the public shareholder register did not change much from year to year.

- I have never wondered if I should ask to see all the transactions running, both because he said he had stopped short-term stock trading, and because the stock portfolio looked about the same at the end of the year every year, she said.- I have never wondered if I should ask to see all the transactions running, both because he said he had stopped short-term stock trading, and because the stock portfolio looked about the same at the end of the year every year, she said.

But Solberg's description of this share portfolio is not correct.But Solberg's description of this share portfolio is not correct.

Finnes' publicly available share portfolio was first published by E24 in the first article about his share purchase on 31 August.Finnes' publicly available share portfolio was first published by E24 in the first article about his share purchase on 31 August.

VG's review shows a number of major changes during the eight years Solberg was prime minister. Among other things:VG's review shows a number of major changes during the eight years Solberg was prime minister. Among other things:

• In 2014, he is listed with shares in 14 companies. The following year he had sold out of four companies and invested in three new ones.In 2014, he is listed with shares in 14 companies. The following year he had sold out of four companies and invested in three new ones.
• In 2017, Finnes sold out of 10 companies.In 2017, Finnes sold out of 10 companies.
• In 2020, Finnes invested heavily in the industrial company Nekkar. At New Year's, the shareholding was worth NOK 240,000.In 2020, Finnes invested heavily in the industrial company Nekkar. At New Year's, the shareholding was worth NOK 240,000.
• Along the way, he tripled his holdings in Will Wilhelmsen and more than doubled his holdings of Hydro shares.Along the way, he tripled his holdings in Will Wilhelmsen and more than doubled his holdings of Hydro shares.

Robert Næss, investment director and manager of the Nordea funds, says that Finnes' share portfolio in several years resembled that of an active professional share trader, while it was lower in some years.Robert Næss, investment director and manager of the Nordea funds, says that Finnes' share portfolio in several years resembled that of an active professional share trader, while it was lower in some years.

- And in 2021 it was wild. Here the value of the shares rose from well over one million to four million. Most of the shares were replaced as well.- And in 2021 it was wild. Here the value of the shares rose from well over one million to four million. Most of the shares were replaced as well.

It is not clear from the overview which of the purchases in 2021 were made before and after the change of government.It is not clear from the overview which of the purchases in 2021 were made before and after the change of government.