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ABGSC Telecom Operators Research ... (+4)
  • ABGSC Telecom Operators Research
  • Derek Laliberté
  • Øystein Elton Lodgaard
  • Simon Granath
Russell Waller
  • Russell Waller

Tele2 (Buy, TP: SEK 170, +7%) Q4 25: A lot of mixed messaging

Tele2 has reported a confusing set of results with lots of mixed messages. On the one hand, Q4 results were good, but 2026 EBITDAaL guidance is a but disappointing and at odds with current growth rates and looks beatable given likely Q1 growth rates.

ABGSC Telecom Operators Research ... (+4)
  • ABGSC Telecom Operators Research
  • Derek Laliberté
  • Øystein Elton Lodgaard
  • Simon Granath
Pierre FerraguÊ
  • Pierre FerraguÊ

AI in 2027; Intel’s turnaround; TSMC in 2026; Mobileye; Ericsson. Tech...

As always, during earnings season, we wrap-up what happened in the previous week. For our main takes summarized on a single slide, and a few words on each of the 4 names we over the last two weeks, follow the link below.

Ben Harwood ... (+2)
  • Ben Harwood
  • Pierre FerraguÊ

Ericsson 4Q25: Strong topline beat and cost control; near-term growth ...

Ericsson reported 4Q25 last week. Please click the link below for our full take on the print.

ABGSC Telecom Equipment Research ... (+4)
  • ABGSC Telecom Equipment Research
  • Daniel Thorsson
  • Øystein Elton Lodgaard
  • Simon Granath
 PRESS RELEASE

Telenor Group's results invitation for the fourth quarter 2025

Telenor Group's results invitation for the fourth quarter 2025 Join us for Telenor Group’s results for the fourth quarter 2025.When: Friday 6 February 2026, 09.00 CET / 08.00 UKT. The presentation will be held by Group CFO Torbjørn Wist, in the temporary absence of Group CEO Benedicte Schilbred Fasmer, due to a planned operation and a short-term sick leave. To view the webcast, without participating in the live Q&A, please visit: /investors/reports-and-information/quarterly/telenor-groups-results-for-the-4th-quarter-2025/ or visit Telenor.com/investors The presentation will be availab...

 PRESS RELEASE

Invitasjon til Telenors resultatfremleggelse for fjerde kvartal 2025

Invitasjon til Telenors resultatfremleggelse for fjerde kvartal 2025 Telenor legger frem resultater for fjerde kvartal 2025. Når: Fredag 6. februar 2026 kl 9.00. Presentasjonen vil holdes av finansdirektør Torbjørn Wist, under et midlertidig fravær av konsernsjef Benedicte Schilbred Fasmer som følge av en planlagt operasjon og en kortvarig sykemelding. For å se webcast, uten å stille spørsmål, bruk denne linken: /investors/reports-and-information/quarterly/telenor-groups-results-for-the-4th-quarter-2025/ eller besøk Telenor.com/investors. Presentasjonen vil kun være til...

Ben Harwood ... (+2)
  • Ben Harwood
  • Pierre FerraguÊ

Ericsson 4Q25: Strong topline beat and cost control; near-term growth ...

Ericsson reported 4Q25 this morning. Please click the link below for our take on the print.

ABGSC Telecom Equipment Research ... (+3)
  • ABGSC Telecom Equipment Research
  • Øystein Elton Lodgaard
  • Simon Granath
Jan Frederik Slijkerman ... (+5)
  • Jan Frederik Slijkerman
  • Jeroen van den Broek
  • Jesse Norcross
  • Nadège Tillier
  • Timothy Rahill

Coffee, Croissants & Credit/Kinder Morgan, Telenor, Orange

Kinder Morgan posts strong 4Q25 / Telenor sells its stake in True / French operators discuss an M&A transaction with Altice France

Russell Waller
  • Russell Waller

Telenor (Neutral, TP: NOK150, +2%) Telenor – exit from Thailand – wha...

Telenor has announced a sale of its stake in TRUE for THB 11.7/share, a 4% discount to the market price. In this brief note we discuss implications for Telenor, including the likelihood of cash returns and/or M&A.

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