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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  Telenor ASA    TEL   NO0010063308

TELENOR ASA

(TEL)
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Axiata, DiGi.com Trade Sharply Down After Telenor Tie-Up Fails

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09/09/2019 | 11:07pm EDT

By Yantoultra Ngui

KUALA LUMPUR, Malaysia--Shares of Axiata Group Bhd. (6888.KU) and DiGi.com Bhd. (6947.KU) fell sharply Tuesday morning in the first day of trading following news that Axiata and Norway's Telenor ASA (TEL.OS) plan to merge some of their assets had failed.

Shares of Axiata--Malaysia's largest telecom by market capitalization--dropped as much as 18% to MYR4.01 in early trading, hitting their lowest in over four months as shares of Telenor's Malaysian unit, DiGi.com, shed 12% to MYR4.30, putting both among the top losers on the local bourse.

In May, the companies said they were discussing a possible noncash merger of their Asian telecom and infrastructure assets that would have created one of Asia's largest telecom companies with potential annual revenue of $12 billion.

Hong Leong Investment Bank Research described the aborted tie-up as "a negative surprise" that would pressure both Axiata and Digi.com shares, while AmBank Research downgraded the Malaysian telecommunications sector to neutral from overweight, citing the missed opportunity to alleviate the pricing competition that has eroded the sector's margins in recent years.

Write to Yantoultra Ngui at yantoultra.ngui@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
AXIATA GROUP -0.28% 3.5 End-of-day quote.-15.46%
DIGI.COM -0.23% 4.28 End-of-day quote.-4.04%
JUST GROUP PLC -4.49% 48.9 Delayed Quote.-38.10%
TELENOR ASA -1.32% 138.65 Delayed Quote.-10.77%
WILL GROUP, INC. 0.32% 636 End-of-day quote.-49.20%
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Financials
Sales 2020 127 B 13 368 M 13 368 M
Net income 2020 13 450 M 1 421 M 1 421 M
Net Debt 2020 110 B 11 639 M 11 639 M
P/E ratio 2020 14,9x
Yield 2020 6,48%
Capitalization 197 B 20 783 M 20 842 M
EV / Sales 2019
EV / Sales 2020 2,43x
Nbr of Employees 20 000
Free-Float 44,0%
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Technical analysis trends TELENOR ASA
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 168,85 NOK
Last Close Price 138,65 NOK
Spread / Highest target 39,2%
Spread / Average Target 21,8%
Spread / Lowest Target 8,19%
EPS Revisions
Managers
NameTitle
Sigve Brekke President & Chief Executive Officer
Gunn Wærsted Chairman
Tone Hegland Bachke Chief Financial Officer
Ruza Sabanovic Executive VP, Head-Technologies & Services
Sally Margaret Davis Director
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