Wed, Feb. 10, 6:46 AM
Oct. 28, 2015, 3:41 PM
- Norwegian telecom Telenor (OTCPK:TELNY) has fallen 3.4% in U.S. trading after it cut its full-year outlook despite beating earnings expectations for Q3.
- The company reduced expectations for full-year revenue growth to 5%, from 5%-7%, and sees EBITDA margin of 34%-35%, down from 34%-36%, after it abandoned a merger of its Danish operation with TeliaSonera amid regulatory opposition. "The adjusted outlook is primarily a consequence of the inclusion of the Danish operation," Telenor said.
- Telenor said adjusted EBITDA was up 15% to 11.85B krone (about $1.38B), ahead of an expected 11.4B krone. It had taken a previously planned 5.4B krone charge on selling its stake in VimpelCom, which pushed it to a net loss of 1.77B krone.
- Previously: Telenor up 2.5% as it to plans to divest big stake in VimpelCom (Oct. 05 2015)
- Previously: Telenor dropping Uninor brand in India, focusing on value (Sep. 23 2015)
- Previously: TeliaSonera, Telenor call off Danish merger as regulators balk (Sep. 11 2015)
Telenor ASA is a holding company. Through its subsidiaries, Telenor ASA provides fixed and mobile (analog and digital) communication networks and also develops, sells and distributes communication, entertainment and information services in the Norwegian private and business markets. The Company... More
Industry: Telecom Services - Domestic
Other News & PR