* Keeps peak Indian funding cap target at 155 bln rupees
* Targets 2015 operating cash-flow of NOK 28-30 bln
* Analyst says new targets "surprisingly positive"
(Adds detail, analyst)
OSLO, Sept 19 (Reuters) - Norwegian telecom firm Telenor
aims to grow faster than its peers over the next three
years and plans to pay a high and growing dividend in the next
few years, it said on Wednesday.
Telenor, which has over 150 million subscribers across
Europe and Asia, aims to lift its operating cashflow to between
28 billion and 30 billion crowns ($4.90-$5.25 billion) by 2015,
a big increase from 19.1 billion crowns in 2011, the firm said
in a capital markets day presentation.
"They've set ambitious goals for 2015," said Espen
Torgersen, an analyst at brokerage Carnegie. "The targets are
clearly above market expectations and put the focus on better
operations and higher cash flow... This is surprisingly
In India, where the firm is at risk of losing its licenses
and faces a costly licensing round, it said it would not lift
its spending commitment and any upfront license fee had to fit
within its previous guidance.
State-controlled Telenor is among eight mobile carriers in
India set to lose a total of 122 regional operating permits
after courts revoked licenses granted in a scandal-tainted
Telenor, which earlier said it would exit India if the new
licenses were too expensive, said its peak funding cap would
remain 155 billion Indian rupees ($2.87 billion). The Uninor
unit, a joint venture with Indian property company Unitech Ltd
had accumulated losses of 127 billion rupees by the
end of the second quarter.
Telenor added it aimed to pay out between 50 and 80 percent
of its profit in dividends with nominal dividend growth for each
The company did not update its 2012 targets and only
released "efficiency" targets for 2013, including keeping
operating expenses below 35 percent of revenues and keeping
capital expenditure at around 10 percent of sales.
($1 = 5.7146 Norwegian krones)
($1 = 54.0550 Indian rupees)
(Reporting by Balazs Koranyi; Additional reporting by Henrik
Stolen; Editing by Helen Massy-Beresford)