Oslo - Norwegian telecommunications group Telenor first quarter earnings were "stable" year-on-year, the group said Tuesday, adding it was preparing to adjust to the global financial downturn.

Earnings before interest, taxes, depreciation and amortization (EBITDA) were 9.26 billion kroner (1.41 billion dollars) including the Ukraine-based Kyivstar, compared to
9.23 billion kroner in the corresponding business period 2008.

Sales in the quarter were 27.1 billion kroner, compared to 26.29 billion kroner in first quarter 2008.

In a comment, chief executive Jon Fredrik Baksaas "the business environment continues to be turbulent and we now experience some impact on the telecom sector, in particular influencing international traffic."

Ukraine was the Telenor market that was "most affected by the financial crisis," Baksaas added.

The earlier announced deal to secure a 60-per-cent controlling stake in Indian group Unitech Wireless was completed in March 2009 and services were expected to be launched during the second half of this year.

In its Norwegian home, Telenor estimated it had 54 per cent of the mobile market and 60 per cent of the fixed-line market, measured in traffic minutes.

Citing uncertainty over global economic development, the group said revenues were likely to be in line with 2008.

In addition to Norway and neighbouring Sweden and Denmark, Telenor has operations in Hungary, Serbia, Ukraine, Montenegro, Pakistan, Thailand, Malaysia and Bangladesh. (dpa)