Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
BW Businessworld

Telenor Decision On India Operations By 2016-End

The company has said it may leave India unless it is able to secure additional capacity for its networks at a reasonable cost

Photo Credit :

1461756387_DWke7C_Telenor_Telecom_CEO_Brekke_Reu.jpg

Norwegian telecoms operator Telenor must make a decision on the future of its India operations by the end of 2016, Chief Executive Sigve Brekke said on Wednesday.

"We must find a solution sometime this year," Brekke said.

"Long-term presence in India is dependent on our ability to secure additional spectrum. We are not able to compete with current spectrum portfolio we have in growing data market," he said.

The company previously said it may leave India unless it is able to secure additional capacity for its networks at a reasonable cost.

The Nordic region's largest phone company reported first-quarter earnings that beat forecasts and repeated its guidance for 2016.

Telenor's adjusted quarterly earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to 11.69 billion crowns ($1.43 billion) from 10.59 billion a year ago.

Its first-quarter revenues were 33 billion crowns.

In the quarter, 5.4 million new mobile subscribers were added, of which 2.2 million in Pakistan, 1.8 million in Myanmar and 1.5 million in India. The total customer base now stands at 208 million and about 40 per cent are active internet users.


Tags assigned to this article:
telecom telenor sigve brekke financial results