Norwegian telecoms group Telenor cannot exclude the possibility that a crisis gripping the euro zone will affect its business, even though most of its operations are in Scandinavia, eastern Europe and Asia, its chief financial officer said. "We are quite fortunate, but we should not rule out that macroeconomics and a potential banking crisis could also impact Telenor," Richard Aa told a Morgan Stanley conference in Barcelona, Spain on Wednesday.Even though none of Europe's Scandinavian countries have joined the euro, Aa said that heavy trade between northern and southern Europe meant Scandinavia would not be unscathed."Probably most exposed is the business sector in Sweden, selling communication services to the business market, because we see that the Swedish economy is very open," he said.Last quarter, Telenor made 43 percent of its revenues in the Nordic countries, 41 percent in Asia and 9 percent in Central and Eastern Europe.
Morgan Stanley is a global financial services firm that, through its subsidiaries and affiliates, provides its products and services to a group of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS fell by 4.52% or $-0.72/share to $15.21. In the past year, the shares have traded as low as $11.58 and as high as $31.04. On average, 33279000 shares of MS exchange hands on a given day and today's volume is recorded at 19536516.
