Telenor ASA

Telenor is a holding company. Through its subsidiaries, Co. operates as a telecommunication company. Co. provides mobile communication, fixed line communication, and broadcasting activities. Co.'s mobile communication business includes voice, data, Internet, content services, customer equipment and messaging. Fixed service comprise telephony, Internet and television (TV), leased lines as well as data services and managed services. Broadcast comprises Canal Digital DTH in the Nordics, satellite broadcasting, terrestrial radio and TV transmission in Norway and Belgium and encryption related services for TV distribution.
  • TickerTEL
  • ISINNO0010063308
  • ExchangeOslo Bors
  • SectorMobile Telecommunications
  • CountryNorway

Analysts

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/CSPP2, Deutsche Bank, AT&T, Telenor and Verbund

Strategy: CSPP2 on its way

Frank Maaø ...
  • Ole Martin Westgaard
  • Ole-Andreas Krohn

Northern Lights

Frank Maaø

Telenor (Hold, TP: NOK183.00) - Axiata off, but could it re-emerge?

Axiata and Telenor have decided to cancel the proposed asset merger in Asia, with the parties citing “some complexities”. We have a HOLD and NOK183 target price on Telenor.

Eivind Sars Veddeng ...
  • Frank Maaø
  • Håkon Astrup
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Nicolas McBeath
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Simen Mortensen
  • Stefan Gauffin

Nothern Lights

Frank Maaø

Telenor (Hold, TP: NOK183.00) - Only minor revisions

We have made minor negative forecast adjustments following the Q2 report and remain unconcerned about the lowered guidance, the risk for which we had flagged. The -4% share price reaction seemed slightly overdone, and keep our HOLD recommendation and NOK183 target price.

Frank Maaø

Telenor (Hold, TP: NOK183.00) - Axiata off, but could it re-emerge?

Axiata and Telenor have decided to cancel the proposed asset merger in Asia, with the parties citing “some complexities”. We have a HOLD and NOK183 target price on Telenor.

Frank Maaø

Telenor (Hold, TP: NOK183.00) - Only minor revisions

We have made minor negative forecast adjustments following the Q2 report and remain unconcerned about the lowered guidance, the risk for which we had flagged. The -4% share price reaction seemed slightly overdone, and keep our HOLD recommendation and NOK183 target price.

Neil Macker

Morningstar | Telenor Posts Mixed 2Q; Bangladesh Remains a Key Growth Driver

Telenor reported another mixed quarter, as the second quarter featured stronger organic revenue growth but weaker EBITDA margins. The firm reported first-half organic revenue growth of 0.5% year over year versus our full-year projection of a 0.1% decline. We are maintaining our NOK 164 per local share fair value estimate and narrow moat rating. We believe the shares are fairly valued. Telenor’s fiber service continues to expand within the home market of Norway, adding 10,000 subscribers in the quarter and helping to increase fixed Internet average revenue per user, or ARPU, to NOK 383 from NO...

Frank Maaø

Telenor (Hold, TP: NOK183.00) - Solid listed-asset performance

Telenor’s Asian subsidiaries reported solid underlying results, mostly due to increased operating efficiencies. We have upgraded to HOLD (SELL), while reiterating our NOK183 target price.

Frank Maaø

Telenor (Sell, TP: NOK183.00) - Q2, a reality check on valuation

We believe valuation may have overshot realities and have downgraded to SELL (HOLD), reiterating our NOK183 target price. Negative catalysts for the stock include a poor risk/reward around the Q2 report, and potentially another expensive licence in Pakistan.

A director bought 2,000 shares at 156.700NOK and

A director at Telenor Asa bought 2,000 shares at 156.700NOK and the significance rating of the trade was 69/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of ...

Frank Maaø ...
  • Ole Martin Westgaard
  • Ole-Andreas Krohn

Northern Lights

Eivind Sars Veddeng ...
  • Frank Maaø
  • Håkon Astrup
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Nicolas McBeath
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Simen Mortensen
  • Stefan Gauffin

Nothern Lights

Alexander Aukner ...
  • Frank Maaø
  • Jon Masdal
  • Marius Knudssøn
  • Martin Hoang Nguyen
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin

Northern Lights

Frank Maaø ...
  • Martin Arnell
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin

Northern Lights

Eivind Sars Veddeng ...
  • Frank Maaø
  • Mats Bye
  • Ole-Andreas Krohn

Northern Lights

Ng Adrian

Telenor

Ng Adrian

Telenor

Ng Adrian

Telenor

TELENOR ASA sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of TELENOR ASA (NO), a company active in the Mobile Telecommunications industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date November 13, 2018, the closing price was NOK 160.50 and its potential was estimated at NOK 171.18.

Ng Adrian

Telenor

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/CSPP2, Deutsche Bank, AT&T, Telenor and Verbund

Strategy: CSPP2 on its way

ING
Hendrik Wiersma

Telenor/Disappointing 2Q; TELNO2.625 12/24 preferred

Telenor has released somewhat disappointing 2Q19 earnings with the full year outlook adjusted downward, also impacted by one-off items. With Telenor trading largely in line with Orange across the curve, we don't expect any meaningful impact on Telenor's spreads on the back of these results. Our preferred bond on the curve is the TELNO2.625 12/24.

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Telenor, Enagas and Naturgy

Telenor reports somewhat disappointing 2Q19 results; no meaningful impact on spreads

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Telenor targeted by activist investor

Telenor (TELNO) has been targeted by Constructive Capital to spin off its mobile masts and increase its debt, according to the Financial Times this morning. The little known local activist investor wants Telenor to switch NOK75bn from its funding from equity to debt. Constructive Capital, which is reported to hold an indirect stake of less than 5%, sees upward potential for Telenor's share price of up to 84%, which would enable the company to make acquisitions by using the company's stock, according to the newspaper.

ING
Hendrik Wiersma

Telenor/2Q18 results largely in-line; outlook maintained

Telenor released 2Q18 results that were largely in-line with expectations and management reiterated its outlook for the full year. The company's balance sheet remains strong. Net debt stood at NOK49.3bn at the end of 2Q18, versus NOK42.2bn at 1Q18, with the net debt/EBITDA ratio standing at 1.1x. We view this report card as neutral to spreads, given Telenor's tight trading levels versus Orange, thus limiting the upward potential.

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Summary Marketline's TDC A/S Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by TDC A/S since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlights This re...

Expert Corporate Governance Service (ECGS)

Telenor - AGM 07 May 2019

In general, Telenor is in compliance with the Norwegian regulations relating to the organisation and procedures of the AGM. Under ITEM 7, the board of directors seeks approval of the auditor's remuneration. In view of the substantial amount of non-audit fees, ECGS recommends to vote OPPOSE. Under ITEM 9.1, the board of directors seeks approval of the Company's remuneration guidelines. The proposed remuneration structure is not in line with ECGS' guidelines. Accordingly, ECGS recommends to vote OPPOSE. Undet ITEM 9.2, the board of directors seeks approval of a revised LT incentive plan. Alth...

Telenor ASA – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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