Telenor Group(OSE: TEL , NASDAQ: TELNF) added almost 8 million mobile subscribers in Q2, most of whom are from Asia. Second quarter EBITDA was 7.5 billion NOK with EBITDA margin at 31 percent. This comes in the middle of the slew or Nordic telecommunications companies numbers from yesterday.
Telenor maintains outlook for 2011 and announces a share buy-back programme for 3% of the outstanding shares. After the 5 billion NOK operating cash flow from Q2, Telenor expects somewhat stronger cash flow than what was guided before and pegs down 2011 CAPEX guidance.
Telenor says that Operational focus is required in VimpelCom. The company aims to become an ultra low-cost operator in India. The reason behind a major network outage in Norway this June has been rectified. The stock is up 1.5% 25 minutes in. Full interim report is here.
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