(CNN) The wife of a prominent Norwegian businessman is missing in a suspected kidnapping, and her suspected captors have demanded a ransom for her return, police said Wednesday.

Anne-Elisabeth Hagen, 68, the wife of multimillionaire Tom Hagen, disappeared on the morning of October 31, according to authorities.

"We can confirm that there is a ransom, and that serious threats have been issued," Øystein Stavdal Paulsen, senior adviser of Norway's East Police District, told CNN.

"Regarding the ransom, we do not want to confirm what amount or in what form," Paulsen added.

At a press conference Wednesday, Tommy Broeske, assistant chief of police, told reporters that police had been working on the case for "several weeks" but had previously asked media not to report on Hagen's disappearance as it could possibly endanger her life.

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