Goldman Sachs led a Nkr8.2bn (€974m) sale of shares in Telenor which will move the bank into the top three for European equity issuance at the end of this quarter. The bank is understood to have been left with a small position from the sale.

Goldman was previously fifth in the European equity rankings, according to Dealogic, the investment banking research firm. The Telenor trade moves the bank into third place behind Citigroup and Morgan Stanley which tops the table.