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TELIA - Telia AB News Story

SEK35.72 0.0  0.1%

Last Trade - 10:26am

Sector
Telecoms
Size
Large Cap
Market Cap £12.38bn
Enterprise Value £20.74bn
Revenue £7.51bn
Position in Universe 55th / 1831

UPDATE 1-Telia's Norwegian deal raises pressure on Telenor

Tue 17th July, 2018 9:41am
(Recasts with Telia-TDC deal, adds CEO, analysts, share)
    By Gwladys Fouche
    OSLO, July 17 (Reuters) - Shares in telecoms operator
Telenor  TEL.OL  fell on Tuesday on concerns that rival Telia's
 TELIA.ST  acquisition of TDC's Norwegian business could dent
its market share in its home base.
    Adding to the downbeat mood, Telenor reported second-quarter
earnings which were slightly below forecast.
    Sweden's Telia said it was buying Danish company TDC's
operations in Norway for 21 billion crowns ($2.60 billion) in a
deal it said would boost its position as a "strong challenger"
in mobile, TV and broadband.  urn:newsml:reuters.com:*:nL8N1UD0LD
    Norway generated 24 percent of Telenor's revenues in the
second quarter. 
    "This is bad news," said Sparebank 1 Markets analyst Petter
Kongslie. "Telia becomes a larger competitor in Norway."
    Telenor shares were down 2.3 percent at 0840 GMT, lagging a
European telecoms index  .SXKP  down 0.8 percent.
    Telenor said it was not worried about Telia's expansion in
Norway.
    "We don't see any big effects. It has always been a
competitive market and it will be," Chief Executive Officer
Sigve Brekke told an earnings presentation. "We are satisfied
with the strong position we have." 
    Telenor presented its second-quarter earnings on Tuesday,
which came in just below forecast, with its profit before
interest, tax, depreciation, amortisation and other items, or
adjusted EBITDA, falling to 11.3 billion crowns from 11.6
billion a year ago. 
    Analysts had expected a profit of 11.4 billion crowns.
Telenor reiterated its outlook.  urn:newsml:reuters.com:*:nL8N1UC215
    ($1 = 8.0851 Norwegian crowns)

 (Reporting by Gwladys Fouche
Editing by Amrutha Gayathri/Keith Weir)
 ((gwladys.fouche@tr.com; +47 23 31 65 94; Reuters Messaging:
gwladys.fouche.reuters.com@reuters.net; Twitter handle:
@gfouche))
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