Telenor celebrated big sale with water

There was no time for champagne after Sigve Brekke, chief executive of Norwegian telecoms firm Telenor, signed off on the sale of the state-controlled company’s mobile phone operations in Hungary, Bulgaria, Serbia and Montenegro last week. “We settled for a glass of water,” Brekke told newspaper Dagens Næringsliv (DN). The Telenor CEO was nonetheless pleased […]

India claims more tax from Telenor

Norwegian telecoms firm Telenor, which ran into severe problems doing business in India, now faces a new tax claim from Indian authorities amounting to NOK 775 million (nearly USD 100 million). Telenor disputes the demand. Newspaper Dagens Næringsliv (DN) and TDN Finans reported Wednesday that the extra tax claim is being issued in connection with […]

Lunder cleared of corruption charges

Norway’s economic crimes unit Økokrim announced Wednesday that it was dropping corruption charges against Jo Lunder, the country’s former so-called “wonderboy” of the business world. It concluded there was a lack of evidence after what has been a major international investigation that involved Norwegian company Telenor’s mobile phone interests in Uzbekistan. Lunder was one of […]

‘Wonderboy’ set to log huge gain

Jo Lunder, once dubbed the “wonderboy” of Telenor who later was arrrested on corruption charges, may still live up to his nickname. Newspaper Dagens Næringsliv (DN) reports that Lunder is set to profit handsomely from his brief tenure at the Norwegian tech firm Evry. Lunder spent just eight months serving as Evry’s chairman in 2015, from March […]

Telenor demonstrated new 5G network

Norway’s Telenor and Sweden’s Telia are racing to be the first to provide the next mobile phone network, 5G. Telenor demonstrated its technology this week, with government minister Ketil Solvik-Olsen pressing the button that quickly brought communications speed up to more than 70 gigabits a second. Telenor’s 5G system will mean that mobile phone signals in […]

Corruption-plagued VimpelCom changes its name to VEON

The controversial telecoms firm VimpelCom that’s owned by Norwegian and Russian interests is changing its name to VEON. The name change comes after the company has faced serious charges of international corruption. Norway’s state-controlled telecoms firm Telenor currently owns 23.7 percent of VimpelCom’s shares. Telenor has also been in trouble for years over its VimpelCom […]

Telenor finally sells troubled India unit

After years of heavy losses and regulatory conflicts, Norway’s large telecoms firm Telenor has finally pulled the plug on its operations in India. Its deal to sell long-troubled Telenor India to Bharti Airtel, at a stunning loss of NOK 25 million, was “the best we could manage,” claimed Telenor’s embattled chief executive Sigve Brekke. “Of course […]

Telenor, Statkraft cut hundreds of jobs

Norwegian power company Statkraft and state-controlled telecoms firm Telenor announced more major jobs cuts on Thursday. At Telenor, the cuts were blamed on the ongoing shift to new technology. That’s what’s often leading to job losses these days, as opposed to trade issues and cheaper overseas production. The new job cuts come just a day after […]

More trouble for Telenor, in Bulgaria

Norway’s international telecoms firm Telenor has run into even more trouble at its overseas operations. This time the problems are in Bulgaria, where a police investigation is now underway into what the company calls “economic crime.” Newspaper Dagens Næringsliv (DN) reported Friday that Telenor discovered shortly after buying its Bulgarian operation in 2013 that it […]

Holidays not very happy at Telenor

A form of Norway’s much-cherished “julefred” (literally, Christmas peace) settled over Telenor the weekend, as it and other Norwegian companies recessed for year-end holidays. Most analysts and academics are not expecting a very happy New Year for Telenor, however, since its chief executive has been weakened by the board leader’s unsuccessful attempts to fire him, and her […]