Telenor Q2 in line, to buy back 3 pct of shares

TELENOR-RESULTS:Telenor Q2 in line, to buy back 3 pct of shares

Telenor, the Norwegian mobile phone operator with over 150 million subscribers across Europe and Asia, reported second quarter operating profit in line with expectations on Tuesday and announced a share buyback.

Telenor said its second-quarter earnings before interest and taxes (EBIT) rose 32 percent to 4.29 billion Norwegian crowns, spot on expectations for 4.29 billion in a recent poll of analysts.

Telenor added it would buy back around 47 million of its shares, or around 3 percent of all shares.