Telenor upbeat on 2011 gains

NORWAY’S Telenor took a fresh swipe at its estranged Russian affiliate Vimpelcom yesterday as it reported earnings, saying the company has taken its eye off the ball at home as it pursues expansion abroad.

Telenor’s adjusted earnings were 7.18bn crowns (£769m) in October to December, compared with 6.93bn a year earlier and a 6.92bn average forecast.

Telenor is battling to stop 36 per cent-owned Vimpelcom’s bid to buy Italian mobile group Wind and control of Egypt’s Orascom Telecom.