Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Oslo Bors  >  Telenor ASA    TEL   NO0010063308

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Telenor : Urges India For Solution To Telecom Impasse

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/12/2012 | 01:59pm CEST

Telenor ASA (TEL.OS) Saturday urged the government of India to find a solution to the current impasse that has put the Indian operations of the Norwegian telecommunications operator in jeopardy.

Trond Giske, minister of trade and industry of Norway, is in India to give a diplomatic push for a possible resolution to the crisis precipitated by a Supreme Court order cancelling Telenor's licenses to offer mobile-telephone services in India following a scandal over possible corruption. He is scheduled to meet Indian telecom minister Kapil Sibal late Saturday.

Telenor owned 22 of the revoked licenses through its local joint venture Unitech Wireless Ltd. and the scandal has received a lot of media attention in Norway.

Giske represents the Norwegian government--which owns 53.97% in Telenor--on the company's board. Telenor has already invested about $3 billion in its India operations.

"If this investment fails, it will probably be the biggest loss that a Norwegian company has in foreign investments ever," Giske told reporters in India. The development will lead to "political implications," he added without elaborating.

Telenor has already written off about $1.38 billion of its investments in India.

In February, India's Supreme Court ordered a rerun of a mobile-license auction originally held in 2008, after concluding the previous allocations were rigged and underpriced. As a consequence, Telenor's majority-owned Indian joint venture Unitech Wireless was ordered to return all 22 of its mobile licenses.

In April, India's telecommunications regulator proposed that the government open the sale to all companies when it auctions mobile-phone bandwidth. It also suggested a base auction rate that is several times more than the price at which India allotted 122 licenses and bandwidth to several companies in 2008.

The proposals had led Telenor to warn that it might be forced to exit India completely if the government were to follow current recommendations for the planned renewal of an auction for mobile licenses in the country.

"It will be almost impossible to continue operations given the current regulator's proposals for limited bandwidth sale and high reserve price," Telenor chief executive Jon Fredrik Baksaas said Saturday.

India's top court has set an Aug. 31 deadline for the government to complete the renewed bandwidth auction, and allowed companies affected by the judgment to operate until Sept. 7.

 
   -By R. Jai Krishna, Dow Jones Newswires; +91 22 6145 6107; [email protected] 
 

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on TELENOR ASA
05/27 PAKISTAN TELECOMMUNICATION : PTCL signs Fiber Leasing Agreement with Telenor
05/26 TELENOR : keeps faith with investment
05/25 TELENOR : Cellum helps Telenor Hungary with NFC mobile payments
05/25 TELENOR : launches ‘4G+’ in seven cities
05/24 TELENOR : NetBiztos program rewards videos on online safety, online dating and m..
05/24 TELENOR : WowBox reaches 10 million users
05/24 TELENOR : Thai subsidiary dtac selected preferred partner on TOT’s 2300 MH..
05/24 TELENOR : Thai subsidiary dtac selected preferred partner on TOT's 2300 MHz spec..
05/24 TELENOR : Thai subsidiary dtac selected preferred partner on TOT's 2300 MHz spec..
05/23 TELENOR : Myanmar snaps up 1800MHz spectrum
More news
Sector news : Wireless Telecommunications Services - NEC
05/25DJAXIATA BHD : Group 1Q Net Profit Falls 35%
05/24DJAT&T : Chief Outlines Plans For Running Time Warner -- WSJ
05/24DJVODAFONE : Malta, Melita to Merge
05/23 Westinghouse reaches deal for $800 million U.S. bankruptcy loan
05/23DJAT&T : It's Not TV, It's AT&T
More sector news : Wireless Telecommunications Services - NEC
News from SeekingAlpha
05/18 Communication Services 'Safer' Dividend Dogs Stunned By Veon's Prediction For..
05/06 Telenor's (TELNF) Sigve Brekke on Q1 2017 Results - Earnings Call Transcript
05/04 Telenor ASA 2017 Q1 - Results - Earnings Call Slides
05/04 Telenor ASA ADR reports Q1 results
04/13 16 'Safer' Communications Services Dogs Topped By CenturyLink April Gains
Advertisement
Financials ( NOK)
Sales 2017 127 499 M
EBIT 2017 26 796 M
Net income 2017 13 379 M
Debt 2017 47 397 M
Yield 2017 5,85%
P/E ratio 2017 15,36
P/E ratio 2018 13,20
EV / Sales 2017 1,99x
EV / Sales 2018 1,99x
Capitalization 206 901 M
More Financials
Chart TELENOR ASA
Duration : Period :
Telenor ASA Technical Analysis Chart | TEL | NO0010063308 | 4-Traders
Full-screen chart
Technical analysis trends TELENOR ASA
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 27
Average target price 141  NOK
Spread / Average Target 2,1%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Sigve Brekke President & Chief Executive Officer
Gunn Wærsted Chairman
Jørgen Christian Rostrup Chief Financial Officer & Executive Vice President
Ruza Sabanovic Chief Technology Officer & Executive VP
Harald Stavn Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
TELENOR ASA6.82%24 704
AT&T INC.-10.11%234 362
CHINA MOBILE LTD.5.06%226 893
NTT DOCOMO INC1.95%94 937
SOFTBANK GROUP CORP14.67%87 908
VODAFONE GROUP PLC15.19%79 072
More Results