February 13, 2013 / 6:16 AM / in 5 years

Telenor Q4 profit misses, takes big Danish charge

OSLO, Feb 13 (Reuters) - Mobile telecoms firm Telenor reported fourth-quarter earnings slightly behind expectations on Wednesday and took a large impairment charge related to its Danish operations, it said.

Telenor’s fourth quarter operating profit rose to 4.498 billion Norwegian crowns ($819.73 million) from 3.533 billion a year earlier but came behind analysts’ expectation for 4.597 billion crowns.

Dragging its bottom line lower, the firm also took a 4 billion crown impairment related to its Danish operations as its reassessed the value of the subsidiary in light of fierce competition, lower revenues and weaker margins. ($1 = 5.4872 Norwegian krones) (Reporting by Balazs Koranyi)

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