Mon, Oct. 5, 10:26 AM
- In a strategic shift, Norway's Telenor (OTCPK:TELNY +2.5%) is divesting its "challenging" multibillion-dollar stake in Russia telecom provider VimpelCom (NASDAQ:VIP)
- VimpelCom ADRs were up 2.7% in the early going in U.S. trading.
- Telenor has a 33% stake in VimpelCom that is worth more than $2.4B. “The VimpelCom asset, where Telenor holds a minority position without the possibility to fully control the company, has been challenging,“ says its chairman, Svein Aaser.
- The probes in the U.S. and the Netherlands into possible bribery at VimpelCom have raised controversy in Norway over Telenor's holding.
- The sale could take some time, and Telenor says it's expecting a related noncash impairment of 7.5B Norwegian krone (about $900M) against Q3 earnings.
- Previously: U.S. telecom probe seeking to seize $1B in European assets (Aug. 13 2015)
Wed, Sep. 23, 4:27 PM
- As part of its positioning as a value brand, Telenor (OTCPK:TELNY) said it's rebranding its operations in India, dropping the longtime Uninor brand to become Telenor India.
- "This is about more than changing a brand name," Telenor CEO Sigve Brekke says
- Penetration in India remains low, at 80% at the end of June and falling to 48.7% in rural areas.
Fri, Sep. 11, 11:41 AM
- Sweden's TeliaSonera (OTCPK:TLSNY +0.1%) and Norway's Telenor (OTCPK:TELNY -1.7%) have abandoned a merger of operations in Denmark amid strict opposition from EU regulators -- the first such opposition after a couple of years of mobile consolidation.
- That consolidation happened under then-Competition Commissioner Joaquin Almunia, who was succeeded by Margrethe Vestager last November.
- "What we were looking at were very serious concerns," said Vestager about the Danish market. "To me it was necessary to have a fourth mobile operator." She said there shouldn't be conclusions drawn about the UK and Italy, however, where similar deals could reduce the number of national operators to three each.
- TeliaSonera and Telenor faced a relatively easier tie-up in Denmark operationally, as the two already share a network, but also thus had fewer options for divestment to satisfy regulators.
- Shares in Danish market leader TDC fell 7.7% in Copenhagen, and are down 8.2% in OTC trading (OTCPK:TDCAF).
Thu, Apr. 9, 10:00 PM
- In a new report on fiber, DSL and cable broadband subscribers, Infonetics Research projects that consumers are driving global fixed broadband adoption toward a 5% compound annual growth rate through 2019, from a current base of 733M (up 8% last year).
- Global growth will lead the way, the firm says, especially in China (Asia Pacific has 50% of the world's fixed broadband subscribers, and China Telecom (NYSE:CHA) is the worldwide share leader) -- as well as Russia, Brazil, Mexico, Arrgentina, Indonesia, Thailand and Vietnam.
- Other insights: DSL's still the biggest technology, but growth is coming via fiber-to-the-home and DOCSIS 3.0 cable; and FTTH subscribers grew 22% last year to cross the 100M-subscriber line.
- U.S.-traded players in the firm's report: T, BT, CHA, CHU, CHT, CMCSA, OTCQX:DTEGY, OTCPK:KDDIY, KT, NTT, ORAN, OTCQX:ROSYY, TI, TEF, OTCPK:TELNY, OTCPK:TLSNY, OTC:TMXLF, OTCPK:TLSYY, TWC, OTC:TRKNY, VZ, VIP, VOD
Sep. 10, 2013, 4:04 AM
- Norway's right-of-center Conservatives and its allies have won a landslide victory in the country's election, beating out the ruling Labor party.
- Incoming Prime Minister Erna Solberg has promised a program of privatization, a reduction of Norway's heavy reliance on oil, and tax cuts as she looks to give the private sector more room to breathe.
- The privatization could include the lowering of stakes in Statoil (STO) and telecoms group Telenor (TELNF.PK).
- OMX Oslo 20 +0.3%. USD-NOK -0.2% to 5.998 krones.
- ETFs: NORW, ENOR
Jun. 29, 2013, 1:58 AMMyanmar, possibly the world's last major wireless telecom frontier, has awarded Telenor (TELNF.PK) and Qatar's Ooredoo 15-year licenses to develop mobile communications in that country. The two companies pledged to cover 75% of Myanmar with voice communications within five years. Telenor has not disclosed how much it plans to spend, but Ooredoo indicated it could spend up to $15B. | Jun. 29, 2013, 1:58 AM | Comment!
Jun. 16, 2013, 12:10 AMNorway-based Telenor ASA (TELNF.PK), after having been refused twice, has now been approved to up its stake in India's Telewings Communications from 49% to 74%, the maximum foreign investment in telecom allowed. India has recently been reported to be considering allowing 100% foreign ownership. | Jun. 16, 2013, 12:10 AM | Comment!
TELNY vs. ETF Alternatives
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
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