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UPDATE 1-Com Hem Q3 profit tops forecast, hopeful to add mobile telephony services
October 17, 2017 / 7:32 AM / a month ago

UPDATE 1-Com Hem Q3 profit tops forecast, hopeful to add mobile telephony services

(Adds CEO comments, share price)

Oct 17 (Reuters) - Swedish cable TV firm Com Hem on Tuesday reported third-quarter earnings above expectations and said it hoped to close an agreement to be able to offer mobile telephony services. ​

* Com Hem shares rise as much as 5.8 percent in early trade on Tuesday

* Shares up 5.5 pct at 0730 GMT

* Q3 ‍underlying EBITDA increased of 18.8 pct to SEK 762 mln

* Q3 ‍revenue rose 36.0 pct to SEK 1.78 bln while organic revenue excluding Boxer rose by 3.6 pct to SEK 1,357 mln

* Reuters poll: Com Hem Q3 adjusted EBITDA was seen at SEK 746 million, revenue at SEK 1.80 billion

* Said continued work to attain an MVNO (Mobile Virtual Network Operator) agreement, which means selling own mobile services via another mobile operator’s network

* “In the third quarted we decided to try again to close an MVNO agreement. The response among the telecom operators has been more positive than before,” CEO Anders Nilsson told Reuters

* “We are hopeful it will be possible to get such a solution,” Nilsson said, and declined to give more details as negotiations are ongoing

* Said ‍board intends to propose a change to mix of shareholder remuneration by increasing cash dividend by 50 percent from SEK 4.00 per share to SEK 6.00 per share to be paid out semi-annually in March and September, 2018

* Said ‍alongside cash dividend intend to continue to do buybacks of some SEK 40 mln-50 mln per month in 2018

* “As a base case scenario one could assume we will generate roughly the same shareholder remuneration as this year,” Nilsson said ​

* Says guidance for the group unchanged since Q2 2017‍​ Source text for Eikon: Further company coverage:

Reporting By Olof Swahnberg, editing by Johannes Hellstrom

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