Telia (Buy, TP: SEK46, +12%) Telenor (Neutral, TP: NOK150, -6%) Telia RAN sharing deal a nice support (a negative for Telenor)
Telia has announced a RAN sharing deal with ICE in Norway. We look at the impact of this deal (first derivative and second derivative effects to both Telia and Telenor) and provide some feedback from a management meeting we had this morning with Telia CEO and CFO – which also includes commentary on the outlook in Finland and Sweden M&A.Telia Company provides telecommunication services in the Nordic and Baltic countries, the markets of Eurasia, including Russia, Turkey and Spain. Co. has three business segments: Mobility Services, which comprises operations in Sweden, Finland, Norway, Denmark, Lithuania, Latvia, Estonia and Spain; Broadband Services, which comprises operations in Sweden, Finland, Denmark, Lithuania, Latvia (49.0%), Estonia and international carrier operations; and Eurasia, which comprises mobile operations in Kazakhstan, Azerbaijan, Uzbekistan, Tajikistan, Georgia, Moldova and Nepal. The business area also includes Co.'s shareholdings in OAO MegaFon, Russia and Turkcell Iletisim Hizmetleri A.S., Turkey.
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