Telenor Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

OB:TEL Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
19 Feb 26	BuyNOK 597,176	Marianne Dahl	Individual	3,436	NOK 173.80
06 Feb 26	BuyNOK 1,720,000	Ottar Ertzeid	Individual	10,000	NOK 172.00
21 Nov 25	BuyNOK 217,200	Benedicte Fasmer	Individual	1,500	NOK 144.80
20 Nov 25	BuyNOK 249,924	Torbjorn Wist	Individual	1,738	NOK 143.80
23 May 25	BuyNOK 500,038	Sigvart Eriksen	Individual	3,247	NOK 154.00
06 May 25	BuyNOK 1,572,000	Jens Olsen	Individual	10,000	NOK 157.20

Insider Trading Volume

Insider Buying: TEL insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of TEL?
Owner Type	Number of Shares	Ownership Percentage
Individual Insiders	256,643	0.0187%
General Public	175,421,064	12.8%
Institutions	455,000,406	33.2%
State or Government	738,432,900	53.9%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 83.19% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
53.9%	Nærings- Og Fiskeridepartementet	738,432,900	NOK 126.2b	0%	no data
6.89%	State Street Global Advisors, Inc.	94,382,659	NOK 16.1b	0%	0.05%
4.73%	Folketrygdfondet	64,695,282	NOK 11.1b	0%	6.25%
2.13%	JPMorgan Chase & Co.	29,117,620	NOK 5.0b	0%	0.08%
2.03%	The Vanguard Group, Inc.	27,852,630	NOK 4.8b	0.36%	0.01%
1.77%	BlackRock, Inc.	24,193,706	NOK 4.1b	-0.53%	0.01%
1.63%	Deutsche Asset & Wealth Management	22,354,464	NOK 3.8b	0%	0.09%
0.96%	DNB Asset Management AS	13,115,303	NOK 2.2b	0%	0.61%
0.95%	BNY Asset Management	12,985,760	NOK 2.2b	0%	0.04%
0.94%	Amundi Asset Management SAS	12,936,963	NOK 2.2b	0.32%	0.04%
0.91%	Storebrand Asset Management AS	12,483,298	NOK 2.1b	0%	5.07%
0.89%	Amova Asset Management Co., Ltd.	12,217,793	NOK 2.1b	0%	0.06%
0.82%	Union Asset Management Holding AG	11,238,744	NOK 1.9b	0%	0.12%
0.57%	La Caisse de dépôt et placement du Québec	7,809,783	NOK 1.3b	0%	0.13%
0.55%	KLP Kapitalforvaltning AS	7,559,837	NOK 1.3b	0%	0.33%
0.5%	SIX Group Ltd	6,828,358	NOK 1.2b	0%	18.07%
0.46%	Deka Investment GmbH	6,292,530	NOK 1.1b	0%	0.08%
0.42%	UBS Asset Management AG	5,695,461	NOK 973.4m	0%	0.01%
0.4%	JP Morgan Asset Management	5,464,020	NOK 933.9m	1.66%	0.01%
0.37%	Aberdeen Group Plc	5,024,119	NOK 858.7m	0%	0.04%
0.34%	Geode Capital Management, LLC	4,684,830	NOK 800.7m	1.94%	no data
0.29%	Charles Schwab Investment Management, Inc.	3,953,063	NOK 675.6m	6.56%	0.01%
0.28%	Nordea Investment Management, AB	3,865,099	NOK 660.6m	0%	0.04%
0.22%	Janus Henderson Group plc	3,005,648	NOK 513.7m	-9.01%	0.02%
0.2%	Teachers Insurance and Annuity Association-College Retirement Equities Fund	2,712,755	NOK 463.6m	0.24%	0.01%

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/03/12 06:07
End of Day Share Price	2026/03/12 00:00
Earnings	2025/12/31
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Telenor ASA is covered by 33 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
null null	ABG Sundal Collier
William Noel Milner	Arete Research Services LLP
John Davies	Banco Santander