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Analyst Comment

Telia og konkurrenten Ice indgår joint venture om RAN-netværk i Norge

By Joni GrönqvistAnalyst
Telia Company

Summary

  • Telia Norge og Lyse har indgået en aftale om et 50/50 joint venture for at fusionere deres mobilradioadgangsnetværk i Norge, hvilket vil forbedre mobildækningen inden 2027.
  • Det fusionerede netværk forventes at være operationelt i andet kvartal 2026 og vil styrke konkurrencen og forbrugernes valgmuligheder.
  • Telia forventer betydelige omkostnings- og CAPEX-synergier fra fusionen, men vurderer, at den økonomiske betydning er lille og ikke vil ændre deres nuværende estimater.
  • Yderligere information om de økonomiske virkninger vil blive givet i løbet af første halvår 2026.

Dette indhold er genereret af AI. Du kan give feedback om det på Inderes forum.

Automatisk oversættelse: Oprindeligt udgivet på finsk 3.2.2026, 06.30 GMT. Giv feedback her.

Telia Norge og Lyse, et norsk energi- og teleselskab, der ejer mobiloperatøren Ice, har indgået en principaftale om at etablere et 50/50-ejet joint venture, der vil fusionere Telias og Ices mobilradioadgangsnetværk (RAN) i Norge. Fusionen vil markant forbedre mobilnetværksdækningen i hele Norge allerede inden 2027, især i landdistrikterne, hvilket øger konkurrencen og forbrugernes valgmuligheder, samtidig med at landets digitale modstandsdygtighed styrkes. Telia Norge og Ice vil fortsat eje og drive separate kernenetværk som uafhængige operatører og konkurrenter.

Det forventes, at det fusionerede netværk vil være operationelt i andet kvartal 2026. Telia forventer, at netværksfusionen vil medføre betydelige omkostnings- og CAPEX-synergier samt klare økonomiske fordele i Norge. I det store billede er den økonomiske betydning dog, efter vores opfattelse, lille og vil på nuværende tidspunkt ikke medføre ændringer i vores estimater. Telia forventer at give yderligere information om de økonomiske virkninger i løbet af 1H26.

Telia Company operates in the telecom sector. The company delivers a range of services within voice, IP and capacity services, mainly through wholly owned international carrier networks. Customers are found among private players and corporate customers. The largest operations are found in the Nordic countries, the Baltics and Europe. The company was formed as a merger of Telia and Sonera. The head office is located in Solna.

Read more on company page

Key Estimate Figures29.01

202526e27e
Revenue80,982.182,224.583,908.6
growth-%0.0 %1.5 %2.0 %
EBIT (adj.)14,514.715,185.115,839.2
EBIT-% (adj.)17.9 %18.5 %18.9 %
EPS (adj.)2.362.412.50
Dividend2.052.102.15
Dividend %5.2 %4.7 %4.9 %
P/E (adj.)16.718.417.8
EV/EBITDA8.57.97.8

Forum discussions

Here are Joni’s concise comments on how Telia and Lyse are forming a 50/50 joint venture that combines Telia’s and ice’s mobile radio access...
2/3/2026, 7:55 AM
by Sijoittaja-alokas
3
Now that’s a bold price target hike “We are raising the target price for Telia’s share to 38.0 euros” Looks like euros and crowns got mixed ...
1/30/2026, 8:06 AM
by Mehukasta
10
Here are Joni’s quick comments on Telia’s results. Telia’s Q4 report was slightly softer than our expectations in terms of figures, but the ...
1/29/2026, 11:14 AM
by Sijoittaja-alokas
4
Results are out: Inderes Telia Company Year-end Report January - December 2025 - Inderes On track to deliver on 2027 ambitionsFourth quarter...
1/29/2026, 6:12 AM
by Musti
5
Here are Joni’s preview comments as Telia reports its results on Thursday. We forecast that revenue grew slightly and profitability improved...
1/26/2026, 6:21 AM
by Sijoittaja-alokas
1
Elisa reduced its workforce by about 400 people around Christmas, and it seems Telia has similar plans this spring: ”Telia Finland continues...
1/7/2026, 8:32 AM
by AES
0
Goldman Sachs raised Telia’s recommendation. Goldman Sachs raises target price for Telia to 50 kronor (47), reiterates buy - BN | Placera.se
1/7/2026, 8:28 AM
by AES
3
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