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Telenor

TEL:NO

Primary coverage by Russell Waller

Rating

Neutral

NOK kr138

Model

Updated August 21, 2026

Research

EU Telecoms Review: Fearing FWA capacity more than Starlink

August 21, 2026 — James Ratzer, Russell Waller, Ben Rickett and Jeremy Ben-Nathan
Telenor Q2 26: Guidance cut thanks to Norway and Bangladesh

July 16, 2026 — Russell Waller
Telenor Q1 26: Weak results, EBITDA guidance cut, but FCF guidance unchanged

April 28, 2026 — Russell Waller
Sector rally call slides - Orange/Telia/Tele2 and whole sector: Downgrade to Neutral

March 12, 2026 — Russell Waller, Jeremy Ben-Nathan, James Ratzer and Ben Rickett
Telenor post Q4 25 model update – Impressive Nordic performance, Sweden M&A

February 6, 2026 — Russell Waller

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