Telenor Group is set to make further efficiency savings in 2018 as it continues attempts to refocus the business and pursue its digital transformation strategy, Reuters reported.
Speaking to the news organisation, Telenor CEO Sigve Brekke (pictured) ruled out any acquisition activity in the next twelve months, and reaffirmed plans to increase efforts in “digitalisation” and further reduce overheads, having already slashed costs in 2017.
Its ultimate plan is to return to being a “growth company” – Brekke said in August – and reorganise the business into four regional clusters covering Scandinavia, Central and Eastern Europe, Emerging Asia and Mature Asia.
In its latest financial statement – revealed in October and covering Q3 2017 – Brekke said Telenor would continue to transform its business “by focusing on digitalising the core, improving efficiency across the company and nurturing growth, where we see reassuring trends and potential.”
The company is scheduled to provide another business update in its Q4 2017 results on 31 January.