Telenor ASA (OB:TEL) agreed to acquire Consumer Business from GlobalConnect A/S in a transaction valued at NOK 6 billion on July 8, 2025. The acquisition, which includes the fibre infrastructure and approximately 140,000 fibre customers, represents a key building block in Telenor?s long-term strategy to strengthen its fibre footprint in Norway.
For the period ending December 31, 2024, Consumer Business of GlobalConnect A/S reported total revenue of NOK 600 million.
The transaction is subject to approval by the Norwegian Competition Authority. On December 12, 2025, the Norwegian Competition Authority said that there may be a risk that the competition in the market for broadband services will deteriorate if Telenor is allowed to acquire the business therefore needs to take a closer look at the acquisition.
Telenor ASA is the No. 1 telecommunications group in Norway. Net sales (including intragroup) break down by activity as follows:
- mobile and fixed-line telecommunications services (87.5%): mobile and fixed-line telephony services, voice and data transmission, Internet access, messaging, TV channel broadcasting, sale of telecommunications equipment, etc.;
- telecommunications infrastructure management (3.8%): construction, development and leasing of towers, masts, buildings, etc.;
- other (8.7%): offshore telecommunications services, interconnection between operators, etc.
Net sales are geographically distributed as follows: Norway (31.3%), Bangladesh (18.8%), Sweden (17.1%), Finland (15.7%), Denmark (7.4%), Pakistan (5.6%) and other (4.1%).
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