Plans are meant to be changed. I couldn’t justify converting euros to dollars with the current exchange rate. Otherwise I would have started with Baxter International but in the current situation I’ll wait a while to build up dollar position from dividends received from existing positions. Instead I opened a new position on Telenor by buying 55 shares for 152,70 NOK per share. This is my second Norwegian holding. I’m not super excited about the valuation, this more like a good enough position in the current situation. I might double the position during this month and after that focus on finding something from the euro zone. Right now I’m considering to play the QE scenario by loading up on iShares STOXX Europe Select Dividend 30 UCITS ETF for two to four months.
Summary from http://www.telenor.com/investors/company-facts/:
Telenor Group:
186 million mobile subscriptions
One of the top 500 global companies by market value *
Revenues 2014: NOK 107 billion
Workforce: employees (Q4 2014)
Listed on the Oslo Stock Exchange
Telenor Group has mobile operations in 13 markets and in additionally 14 markets through our ownership in VimpelCom Ltd.*Financial Times Global 500, 2012