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Telenor ASA (OSE: TEL; Norwegian pronunciation: [²teːlənuːr] or [tɛləˈnuːr]) is a Norwegian multinational telecommunications company headquartered at Fornebu in Bærum, close to Oslo. It is one of the world's largest mobile telecommunications companies with operations worldwide, focus in Scandinavia, Eastern Europe and Asia. It has extensive broadband and TV distribution operations in four Nordic countries, and a 10-year-old research and business line for Machine-to-Machine technology. Telenor owns networks in 13 countries, and has operations in 29 countries (including their 14.6% ownership of Veon).Telenor is listed on the Oslo Stock Exchange and had a market capitalization in November 2015 of kr 225 billion, making it the third largest company listed on the OSE after DNB and Equinor (previously known as Statoil).