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 2, 09 where Telenor Pakistan has posted a growth in revenues by 8% and netting 908k subscribers compared to 597k in the previous quarter.
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.
Earlier this year, the Siberian court ordered Telenor to pay VimpelCom damages after Farimex Products Inc., a small stakeholder in VimpelCom, sued Telenor for blocking the mobile phone network’s expansion into Ukraine few years ago. Telenor had termed the suit a fake and flawed and refused to pay the damages.
Court had authorized the auction of Telenor’s 29.9 percent share last month in a bid to recover $ 1.7 billion as court-awarded damages. If courts orders are implemented Telenor will lose every thing there before it can go for an appeal.In Short Telenor is in big trouble in all his operating countries and going may be they want to sell the setup. In these days china mobile is in contact with Telenor to may be take over the setup.
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