Telco Daily Telenor/Tele2 Results, France M&A, UK fibre war

Research evidence excerpt

Telco Daily Telenor/Tele2 Results, France M&A, UK fibre war

Equity Research

16 July 2026

Telco Daily

Telenor/Tele2 Results, France M&A,

UK fibre war

We highlight latest research, news flow and significant Emerging Markets Telecoms

observations relevant to our stock coverage across European/ NEUTRAL

CEEMEA Telecoms, and Global Towers/Satellites. NEUTRALEuropean Telecom Services

European Telecom Services

•• Telenor 2Q26 - Norway and Finland pressures drive guidance cut Mathieu Robilliard

+44 (0)20 3134 3288

•• Tele2 2Q26 – Slightly below, guidance unchanged mathieu.robilliard@barclays.com

BBI, Paris

•• France M&A - French Competition Authority to review SFR asset sale

Maurice Patrick

•• UK fibre war - CityFibre proposes workforce reduction amid challenging market conditions +44 (0)20 3134 3622

maurice.patrick@barclays.com

Detailed stories Barclays, UK

Ganesha Nagesha

Barclays Infrastructure Insights: Early Read-Throughs and Key Debates into 2Q Reporting +91 (0)22 6175 1712

Season (Virtual) ganesha.nagesha@barclays.com

Join the Barclays European Infrastructure team for a discussion of the key themes relevant in Barclays, UK

the imminent reporting season, early read-throughs across Infrastructure from early reports, Maxime Delaugerre

and the major debates likely to shape the remainder of the 2Q results season on Friday, 17 July +44 (0)20 3555 5672

2026 (2:00pm – 2:45pm London). Please see the link for registration details. maxime.delaugerre@barclays.com

Barclays, UK

INWIT Roadshow – 30 July 2026 (London)

We are pleased to be hosting an in-person roadshow with company management on Thursday,

30 July 2026 (London). Group lunch 12pm (City hotel by Liz line). Also added a couple of 1x1

slots in pm due to popular demand. Please let us know if you would like to participate.