Norway’s Telio Holding has outlined its strategy and financial forecasts for the coming years at its Capital Markets Day, with the company confirming that it aims to merge its newly acquired subsidiary NextGenTel with its Telio-branded Norwegian operations under a single banner.
As previously reported by CommsUpdate, in December 2012 Sweden’s TeliaSonera announced it had inked a deal under which it would sell NextGenTel to Telio Holding in a deal valued at NOK601 million (USD107.7 million) on a cash and debt free basis. In detailing its operational plans, Telio Holding noted that in 2013 it aims to ‘implement lean and cost-conscious organisations’, while also seeking to ‘achieve sales and product synergies’. Subsequently, between 2014 and 2015 the company has said it intends to merge Telio Norway and NextGenTel ‘when common production systems are implemented’, with the combined entity to function under a single, and as yet seemingly undetermined brand. Elsewhere, Telio Holding has also noted that NextGenTel is aiming to increase its capacity in the core network until 2014 with a view to meeting customer demand and managing increasing data traffic volumes.
With regards to its financial goals, Telio Holding has set out revenue targets for each financial year to 2015, with the company forecasting turnover of NOK1.342 million in 2013, rising to NOK1.348 million and NOK1.356 million in 2014 and 2015, respectively.