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Telenor posts second quarter profits

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Telenor posts second quarter profits
Telenor CEO Jon Fredrik Baksaas. File photo: Berit Roald/Scanpix
11:21 CEST+02:00
Norwegian telecom company Telenor on Tuesday announced a 25.7 billion kroner ($4.3 billion) profit for the second quarter of 2013, citing strong growth in Asia while also grumbling about regulatory obstacles in Bangladesh and India.

Telenor’s geographical footprint covers both advanced and growing economies, offering growth opportunities and profitability as demonstrated in the second quarter. At the same time, regulatory issues remain a challenge, particularly visible in Bangladesh and India during this period,’’ CEO Jon Fredrik Baksaas said in a statement. 

In the second quarter, Telenor added five million new subscribers in Asia.

The company credited solid growth in Thailand, "as our customers embrace new services enabled through 3G", while traditional markets Norway and Sweden also saw an increase in subscription numbers. 

Telenor also underlined that it was adding Myanmar and Bulgaria to its markets, through its successful bid for a Myanmari telecom licence that was nonetheless waiting for revision to the country's telecom laws. Meanwhile, the Norwegian company snapped up Bulgaria's second largest operator Globul, a move approved by the European Commission. 

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