Telenor: Swedish break-even “would be nice”

Telenor ASA said it would be "nice" if its Swedish operations managed to break even this year but the unit is expected to record another loss, the Norwegian daily Finansavisen reported.

The managing director of Telenor’s Swedish operations Telenor AB, Kjell-Erik Tenold, told the paper: “It would be nice if we get a break even result in 2006.”

Tenold added that the Swedish operations are still in the process of restructuring and a lot of worked remains.

Telenor AB has lost around 750 million Swedish kronor in the last three years, according to the report.

In 2005, Telenor made several acquisitions in Sweden. The most recent was announced in October, when Telenor said it was buying Vodafone Sweden from the UK’s Vodafone Group PLC for 1.035 billion euros.

In May it bought the Swedish broadband provider Bredbandsbolaget for 6 billion Swedish kronor.