Austrian AirPage take the company to court to make a compulsory composition
The owner of Austrian AirPage, Telenor of Norway, has for a year been in the market for a new owner of AirPage, but havent succeeded to find any. AirPage themselves has failed to make a private arrangement with their major creditors, and they had no other option than to take the company to court to make a compulsory composition. The biggest creditors in AirPage is in addition to Telenor Ericsson, Wibag and FGG.
Telenor: Regulatory decision must be reconsidered
Telenor Mobil disagrees with the Norwegian Post and Telecommunications Authority’s (PT) decision to allow Sense Communications access to the company’s mobile network before the appeal has been finally decided. Telenor Mobil will therefore request the Ministry of Transport and Communications to independently review the question of suspensive effect of the decision.
Telenor third quarter 1998
The Telenor Group’s operating income at the end of the third quarter of 1998 amounted to NOK 20,697, which is a good 12 per cent more than in the same period last year. Profit before taxes at the end of the third quarter amounted to NOK 1,963 million, or NOK 324 million more than in the same period in 1997. “Continued strong growth in the market for network-based services, including satellite operations and mobile telephony, contributed to higher operating income. We expect this growth to continue throughout the remainder of the year and into 1999”, says Torstein Moland, E.V.P. and Chief Financial Officer.
Telenor buys more shares in Pannon GSM
Norwegian Telenor has bought part of the shares Tele Danmark has sold of its ownership shares in Pannon GSM in Hungary for approx USD 53 million (approx 400 MNOK). The present value of Pannon GSM indicates that the value of Telenors prior investment (approx USD 38 mill) in the company has increased more than five times to approx USD 200 million.
Telenor – 1st half of 1998
In the first half of 1998, the Telenor Group recorded operating income of NOK 13,771 million, up 13.8 per cent compared to the same period last year. Profit before tax after the first six months of the year amounted to NOK 1,296 million, compared to NOK 965 million in the same period of 1997. Higher operating income and the improvement in profits reflect the strong growth in the market for network-based services, including satellite operations and mobile telephony, as well as realised sales gains of approximately NOK 370 million. “The result is satisfactory, and reflects sound growth in a number of the Group’s business areas. Telenor is still registering a significant growth in traffic. We are pleased to note that the reorganisation of Telenor Bedrift is moving along as planned, and that the company is now reporting positive figures,” says Torstein Moland, Executive Vice President and Chief Financial Officer.
Telenor reports record high mobile phone subscriptions in Norway
The number of Norwegian mobile phone users increases as never before. During the first six months of this year, Telenor Mobil has sold no less than 167 118 new GSM subscriptions, an increase of 33 per cent compared to the same period last year. Telenor now records a total of 1.4 million mobile phone subscriptions
VALUATION OF TELENOR
The following press release has been issued by The Royal Ministry of Transport and Communications:
The Royal Ministry of Transport and Communications has obtained updated independent valuation reports on Telenor AS and its subsidiaries from Dresdner Kleinwort Benson and Elcon Securities. The investment banks indicate an appreciation of the equity value of Telenor to NOK 40 billion – NOK 50 billion from NOK 24 billion – NOK 30 billion over the last year, that is 67 per cent on the average.
New channels at frequency changes at 1° West
– Once operational this August, Telenor’s new Nordic broadcasting satellite THOR III will greatly expand the range of TV services available to DTH (direct-to-home) households, cable and SMATV operators in the Nordic and central European regions. However, the expansion will mean that the frequency and/or polarisation of some existing services will be changed from 1 August, says Morten Solbakken in Telenor Satellite’s broadcasting division.
Successful launch of Telenors new satellite
Telenors new communications satellite Thor III successfully blasted into orbit on a Delta II rocket from Cape Canaveral 20.35 Tuesday (02.35 Wednesday Norwegian/European time). With this launch, Telenor has strengthen its position “One Degree West” with a further 14 transponders. Thor III is the second communications satellite designed and developed for Telenor and it will cover the Nordic and Central European market.
The 1998 Telenor Research Award goes to Professor Stephen Pink
The 1998 Telenor Research Award has been given to Professor Stephen Pink for his significant contributions to developing new capabilities in the Internet. The award money of NOK 250,000 was Thursday handed over in Kristiansand, at the Study Meeting – the annual gathering for the Norwegian electronics and computer trades.