Summary Box: Telenor reports 4Q loss

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The Associated Press 10:06 AM Wednesday, February 8, 2012

THE RESULTS: Norwegian telecom company Telenor reports a 1.9 billion kroner ($330 million) fourth-quarter loss.

BEHIND THE NUMBERS: A court decision in India to cancel all operating licenses of its Uninor subsidiary meant the company had to take a large writedown. The court had revoked 122 licenses issued in 2008 in what was deemed an irregular sale of cellphone spectrum. Nearly a fifth belonged to Uninor.

EVEN SO ...: Telenor says that despite the setback, fourth-quarter revenue grew 7 percent. Telenor forecast that revenue would grow 5 percent in 2012 but the license loss will continue to hurt results.

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February 08, 2012 03:02 PM EST

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