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Telenor Q3 loss widens on writedowns, revenues still growing

Wednesday 26 October 2016 | 08:45 CET | News
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Telenor saw its net loss for the third quarter widen to NOK 4.82 billion from NOK 1.77 billion a year ago, after writedowns on operations in India and stake in Vimpelcom. The company took an impairment charge of NOK 4 billion on its Indian licences after the recent spectrum auction there, while the Vimpelcom stake suffered total writedowns of NOK 2.4 billion after Telenor sold part of its shares in the Russian operator during the quarter. Telenor still reported a small increase in underlying results. Revenues rose to NOK 32.79 billion from NOK 31.84 billion a year earlier, with organic growth

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Categories: General
Companies: Telenor / Vimpelcom
Countries: Asia / Eastern Europe / Scandinavia
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