# Telenor Aims to Complete NOK 15 Billion Buyback in Two Years

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/42430
Published: 2026-10-28T07:28:14.000Z
Updated: 2026-10-28T07:28:14.000Z
Section: Business

> The Norwegian telecom company kept its 2026 forecast unchanged after third-quarter service revenue reached NOK 14.8 billion.

Telenor ASA aims to complete its NOK 15 billion share buyback in two years, shortening the three-year timetable announced in February as the Norwegian telecom company kept its 2026 outlook unchanged after third-quarter results. The company issued its results at 2 a.m. ET (0600 UTC) Wednesday, Oct. 28.

The quarter brought in NOK 14.8 billion in service revenue and NOK 8.8 billion in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA). Free cash flow before mergers and acquisitions (M&A) came to NOK 4.7 billion; total free cash flow was NOK 8.5 billion.

Telenor President and CEO Benedicte Schilbred Fasmer linked the faster buyback pace to the company’s financial position and leverage. “With a strong financial position and modest leverage, we aim to accelerate the share buyback programme and complete the NOK 15 billion programme in two years rather than three,” Fasmer said.

For 2026, Telenor continues to expect flat to slightly negative organic growth in adjusted EBITDA. Separately, it forecasts about NOK 10 billion in free cash flow before M&A, excluding dividends from associated companies and incremental spectrum.

For its Nordic telecom businesses, Telenor expects organic growth in service revenue and adjusted EBITDA to range from flat to low single digits. It also projects capital spending at about 14% of sales, excluding leases.

Net income attributable to Telenor shareholders was NOK 9.8 billion. Adjusted earnings per share increased 45% to NOK 2.70.

Telenor operates in the Nordic region and parts of Asia. It reported around 100 million customers and NOK 61 billion in annual revenue for 2025, and its shares trade on the Oslo Stock Exchange under the ticker TEL.