Norwegian telecom company Telenor reported that its earnings in the third-quarter reached above expectations due to growing mobile service revenue and lower energy prices in the Nordics.
“The third quarter was strong … We delivered solid growth and earnings momentum in the Nordics and saw firm traction for synergy realization in Asia,” CEO Sigve Brekke said in a statement.
In the third quarter, the firm’s Nordics service revenue grew 4% and for EBITDA, it grew by 8%. Telonor expected its business to show organic growth above 3% in service revenues and have EBITDA to grow by 3-4 % this year, reported Reuters.
According to the company, it announced last year that it was considering a stock market listing of its Asian unit. It previously completed an $8.6 billion merger in Thailand with True Corporation this year and a $15 billion merger in Malaysia in 2022.
Source: Reuters
