Telenor ASA - Introduction

Introduction

Snaroyveien 30
Fornebu
N-1331
Norway
Telephone: +47-810-77-000
Fax: +47-678-91-554
Web site: http://www.telenor.com

Public Company
Incorporated: 1995
Employees: 19,450
Sales: $7.93 billion (2003)
Stock Exchanges: Oslo NASDAQ
Ticker Symbol: TELN
NAIC: 517110 Wired Telecommunications Carriers; 515210 Cable and Other Subscription Programming; 517212 Cellular and Other Wireless Telecommuni cations; 517910 Other Telecommunications

Telenor ASA is Norway's leading telecommunications group. As the former state-owned telephone monopoly, Telenor remains the dominate provider of fixed-line telecommunications services in the country. Fixed-line network operations continue to account for 35 percent of the group's revenues. Telenor also controls 56 percent of Norway's mobile telephone market, through subsidiary Telenor Mobil. Yet the small size of its domestic market has led Telenor to look elsewhere for growth, and in the early 2000s, Telenor has emerged as one of the most geographically diversified of Europe's major telecom groups. For its international expansion, Telenor has targeted especially the mobile telephone market. In Scandinavia, the company operates djuice, through subsidiary Telenor Mobile in Sweden, and owns Sonofon, the number two mobile service in Denmark. Beyond Scandinavia, the company owns 100 percent of Hungary's Pannon GSM, that country's second largest cellular service provider, and 100 percent of Promonte, the leading mobile service in Montenegro. Telenor also has entered Ukraine through a 56.5 percent stake in Kyivstar GSM; Russia, with a 29 percent stake in VimpelCom; and Austria, where it owns 17.5 percent of that country's ONE mobile service. Further abroad, Telenor has entered Malaysia, through a 61 percent stake in that country's DiGi cellular phone group; Bangladesh, with 51 percent of GrameenPhone; and Thailand, with a 40.3 percent stake in DTAC. Telenor also owns a license to roll out cellular phone service in Pakistan. Telenor's other operations include television broadcasting via cable and satellite. The company owns 100 percent of satellite broadcaster Canal Digital. Telenor is led by CEO Jon Fredrik Baksaas and is listed on the Oslo and NASDAQ Stock Exchanges. The Norwegian government holds more than 53 percent of the company but has passed legislation allowing its stake in Telenor to drop below 49 percent. In 2003, Telenor posted revenues of $7.9 billion.