Telenor Serbia's revenues up 10.7 percent

Telenor Serbia revenues grew 10.7 percent in Q3, to RSD 11.347 billion, mainly owing to higher ARPU and increased subscription base.

The number of subscriptions rose by 115,000 or 3 percent year-on-year, to 3.25 million, following the previous trends of good market performance in Serbia.

The share of postpaid subscriptions is now 42 percent, up from 39 percent in the third quarter last year.

After the completion of the network modernization earlier this year, capital expenditures stood at nearly half of the level in the same quarter last year.

The Telenor Group is the sixth largest mobile operator in the world. It has 149 million subscribers in 11 markets, 3.25 million of whom in Serbia.