Telenor Looks To Expand Further In Asia, Vietnam Eyed"

STOCKHOLM -(Dow Jones)- Norwegian telecommunications operator Telenor is looking to expand further in Asia and will seriously look at any opportunities that may come up, Chief Executive Jon Fredrik Baksaas said at the company's capital markets day Friday.

Telenor is already active in Bangladesh, Thailand and Malaysia and sees a benefit from expanding further in that region rather than trying to move into markets on other continents.

Baksaas said the company is looking closely at Vietnam and hopes to enter that market when the government privatizes mobile telecom operators.

He said the company is also considering other countries in the region such as the Philippines.

"If there are moves possible we will seriously evaluate them," Baksaas said.

In countries where Telenor is already active, including Ukraine, Bangladesh and Pakistan, Baksaas foresees consolidation, with the number of operators being reduced from five or six at present. "Consolidation in our view is bound to happen," he said.

He didn't specify if and how Telenor aims take part in the consolidation.

-By Magnus Hansson, Dow Jones Newswires; +46 8 545 130 91; magnus.hansson@dowjones.com

(END) Dow Jones Newswires"

Posted to the site on 25th May 2007