Telenor launches after confirmation of calls. Pexip falls after market update.
Published: Just updated
The Oslo Stock Exchange rises 0.3 percent from the start. That after the S&P 500 reached new record levels on Wednesday, even though the record was only marginally above the previous top levels.
The minutes of the last meeting of the US Federal Reserve (Fed) did not contribute to cheers on Wall Street, and the markets remained calm.
That said, recent unemployment figures show that the job market is improving sharply, something the central bank will have to take into account in the time to come. In other words, it is conceivable that the key policy rate in the US will still be raised earlier than 2023, writes Nordnet analyst Roger Berntsen in his morning report.
Telenor close to merger
Telenor and Axiata confirmed in a statement before the stock exchange opened on Thursday that they are close to a merger of the companies’ mobile companies Celecom and Digi in Malaysia.
The share rises 2.55 percent at opening after the news and is today’s most traded share.
The parties will have an equal ownership interest of 33.1 percent in the company. As part of the transaction, Axiata will receive newly issued shares in Digi, a cash consideration from new debt in the company of approximately USD 400 million, equivalent to NOK 3.4 billion, and around USD 70 million, equivalent to NOK 600 million, from Telenor.
Telenor and Axiata close to merger: May be worth more than four billion.
The video conferencing company Pexip has come up with an update this morning that shows that annual recurring subscription revenues (ARR) grew by 54 percent in the first quarter of the year. However, growth has slowed from 73 per cent at the end of last year.
The share falls 5.15 percent when opened.
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Updated: April 8, 2021 9:09 AM
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