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Vimpelcom debacle costs Telenor chairman his job

2015-10-30 01:00:00| Total Telecom industry news

Svein Aaser steps down as Norway's industry minister receives new information on Uzbekistan corruption probe.

Telenor reports third-quarter 2015 results

2015-10-28 09:30:08| Digital TV News

Telenor has reported third-quarter 2015 results. Fibre and cable TV subscribers decreased 8,000 in the quarter to remain at just over one million for Norway and Sweden combined. Canal Digital DTH subscribers declined by 2,000 to finish at 900,000.

Tags: results reports telenor thirdquarter results

Telenor posts Q3 net loss on Vimpelcom writedown

2015-10-28 08:57:00| Telecompaper Headlines

(Telecompaper) Telenor reported a loss of NOK 1.77 billion for the third quarter, hurt by a writedown on its stake in Vimpelcom which is up for sale. In the year-earlier period, the company had a profit of NOK 2.59 billion. Revenues increased to NOK 31.84 billion in Q3 from NOK 27.69 billion a year ago and were up 4.5 percent on an organic basis. Adjusted EBITDA rose to NOK 11.85 billion from NOK 10.26 billion, with the margin little changed at 37.2 percent. Telenor said it showed strong results in the Norwegian mobile market, continued expansion in Myanmar and promising growth trends in Pakistan, Bangladesh, Sweden and Hungary. However, it faced intense competition impacting performance in Thailand, Malaysia and Denmark. In Denmark, the group is still reviewing its strategic options after the proposed merger with Telia was blocked by regulators. The inclusion of the Danish operations led to a change in Telenor's outlook for the full year. It now expects an EBITDA margin of 34-35 percent for 2015, at the low end of its earlier guidance of 34-36 percent. Organic sales growth is expected at around 5 percent over the full year, after 5.7 percent in the first nine months of the year.

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