Telenor targets NOK5bn cost reduction by 2015

Norwegian telecoms giant Telenor has announced that it aims to make cost reductions of around NOK5 billion (USD876 million) over the course of the next four years, as heightened competition continues to drag down earnings. According to Reuters, Telenor aims to make such savings by 2015, and it is understood that improved performance in Russia is viewed by the Norwegian outfit as one of the key factors in improving earnings. In order to trim expenses, it has meanwhile been suggested that Telenor may look to implement network sharing deals similar to those which it already has in Sweden and a number of other countries, with such agreements expected to reduce costs and capital expenditures by as much as 35%.