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Date Source Announcement
19Apr17 08:21 GNW Presentation of Telenor Group's first quarter 2017 results on 4 May 2017
07Apr17 06:04 GNW Telenor announces pricing of its offering of 70 million VEON common shares and ADSs
06Apr17 22:06 GNW Telenor to sell additional shares in VEON Ltd.
04Apr17 06:01 GNW Telenor Group launches IoT pilot for Norwegian entrepreneurs
08Mar17 06:30 GNW NTNU, Telenor and SINTEF open Norway's new powerhouse for Artificial Intelligence
23Feb17 03:16 GNW Bharti Airtel to take ownership of Telenor's operations in India
02Feb17 06:00 GNW Telenor reports fourth-quarter results
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What future in India?

  • 26 Oct 16

Q3 revenues have grown by 2% yoy at constant change, a slightly better performance than the poor growth of 1% recorded during H1. The increase was driven by the ARPU uplift in Bangladesh and Pakistan as well as continued growth in Myanmar. This was partly offset by lower outbound roaming revenues in the Scandinavian operations and still intense competition in Thailand and Malaysia. EBITDA was up by 5%, a solid performance but in line with expectations (and with the 5% recorded during H1). The margin improvement is a result of strong margins in Bangladesh as well as an improved performance in India. But there are questions surrounding the future of the Indian activities after the entry of Reliance Jio on the Indian mobile market. This is why the fair value of the licences in Telenor India has been assessed, resulting in an impairment loss of NOK4bn! The current full-year guidance is maintained (organic revenue growth in the range of 1% to 2%, with an EBITDA margin of around 35%). Following the announcement on 5 October 2015 of its intention to divest its stake in VimpelCom, in Q3, Telenor disposed of 163.9m VimpelCom ADSs (9.3% of its capital) for NOK4.6bn. After the disposal, the group’s ownership of VimpelCom reduced from 33% to 23.7%. A loss of NOK3.2bn was recognised in the income statement upon this disposal relating to the reclassification of translation differences previously recognised in other comprehensive income. During the first 9m, a total impairment loss of NOK0.6bn was recognised. Concurrently with the disposal of 163.9m VimpelCom ADSs, Telenor issued bonds of $1bn exchangeable into VimpelCom ADSs and having a maturity of three years. VimpelCom will continue to be classified as an associate company until a highly probable sale within 12 months of the remaining VimpelCom ADSs.