As part of its Capital Markets Day presentation, Norway’s Telenor Group has outlined plans to increase cooperation between its Nordic units, while confirming it could consider a listing of its Asian unit.
With regards to the latter, in a press release issued in tandem to its Capital Markets Day activities, Telenor Group confirmed that with its subsidiaries in Asia now organised under Telenor Asia, they were ‘focusing on building scale and profitable business, as well as managing risk more efficiently’. Looking to the future of these units, however, the company confirmed that ‘structural partnerships or an initial public offering are future options for Telenor Asia’. Closer to home, meanwhile, Telenor Group said that it was increasing Nordic cooperation between its four units in the region, namely: Telenor Norway, Telenor Sweden, Telenor Denmark and Finland’s DNA. According to the company, it expects this closer cooperation to bring ‘faster development and rollout of services to customers, new synergies and more efficient use of internal resources’.
Of further note, meanwhile, Telenor Group presented its mid-term financial outlook for the period 2023-2025, saying it expects: low- to mid-single digit growth in Nordic service revenues; mid-single digit growth in Nordic EBITDA; and year-on-year growth in dividend per share. However, the company did state that developments in the energy price market over the last couple of months ‘makes it increasingly difficult to reach the guiding of flat EBITDA in 2022’.