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Telenor shares drop after phone carrier warns earnings will fall

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The company’s earnings before interest depreciation and amortisation fell 2%. FMTNews Telenor

Telenor is being pressured by slow growth in its mature markets in the Nordic region and competition at its businesses across Asia.

The company’s earnings before interest depreciation and amortisation fell 2% to 11.1 billion kroner , missing an estimate of 11.3 billion kroner. Revenue was in line with estimates at 28 billion kroner. Telenor is being pressured by slow growth in its mature markets in the Nordic region and competition at its businesses across Asia.

It’s also in talks with Axiata Group to merge operations in Asia, combining their telecom and infrastructure assets to create a company with 300 million customers in nine countries.

 

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