Telenor in Crisis Globally, Loss in Pakistan, Ban in Russia & Restriction in India
Telenor Pakistan faced an operating loss of $14.3 million in the first quarter of 2009, following a loss of $ US 49 million in 2008.
Average revenue per user in Pakistan stood at just Rs. 252 ($ US 3) per subscriber per month in the first quarter, the lowest in all 13 countries in which Telenor operates, but the number of subscribers grew by nearly 20 percent year-on-year.
A fresh air in the quarter 2nd of 2009 where Telenor Pakistan has posted a growth in revenues by 8% and netting 908k subscribers compared to 597k in the previous quarter. The report does not talk about the net profit, a percentage figure on the basis of net addition in connection has been taken into account.
Just two days back a court in Moscow has allowed the sale of shares owned by Telenor in VimpelCom, a number two company by size in Russia, in which Telenor has 29.9 % of shares. The order from the court will result in a total loss of all the assets Telenor posses in Russia.
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