January 9, 2018 / 8:00 AM / 8 months ago

Telenor CEO plans more cost cuts in 2018

OSLO, Jan 9 (Reuters) - Norwegian telecoms operator Telenor plans further cost cuts in 2018, Chief Executive Sigve Brekke told Reuters on the sidelines of a conference on Tuesday.

“In 2018 we aim to continue the work we began last year, an agenda of digitalisation and cutting costs,” he said.

Asked whether Telenor plans to expand via acquisitions, Brekke replied “no”.

“Our focus is on digitalising what we already have and to focus on making what we have more efficient,” he added.

In October, Telenor said the company had reached its 2017 target of cutting costs by 1 billion Norwegian crowns ($123.84 million), and that it would continue to seek further reductions. ($1 = 8.0749 Norwegian crowns) (Reporting by Joachim Dagenborg, editing by Terje Solsvik)

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