Telenor Investors Say ‘Quit India’ as Venture’s Losses Pile Up
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Telenor ASA investors have a piece of advice for Scandinavia’s biggest phone company: Quit India.
Nine months after its debut in the Indian mobile-phone market, Telenor has accumulated 3.4 billion kroner ($556 million) in operating losses. The Norwegian company spent about $1.3 billion to buy control of its India venture and invested 4.8 billion kroner more on capital expenditure. It has forecast the division will be profitable in three years.