Telenor, the Norwegian mobile phone operator with over 150 million subscribers across Europe and Asia, reported second quarter operating profit in line with expectations on Tuesday and announced a share buyback.
Telenor said its second-quarter earnings before interest and taxes (EBIT) rose 32 percent to 4.29 billion Norwegian crowns, spot on expectations for 4.29 billion in a recent poll of analysts.
Telenor added it would buy back around 47 million of its shares, or around 3 percent of all shares.