Telenor announces the acquisition of GlobalConnect's consumer business in Norway. The transaction is valued at NOK 6bn (c. €510m).
This transaction marks an important strategic step in strengthening Telenor's position in the Norwegian fiber market, according to Telenor's management.
The acquisition includes fiber infrastructure and approximately 140,000 fiber customers. The transaction will create synergies with existing operations and provide a solid, long-term foothold in the core telecommunications market, the group said.
Customers joining Telenor will have access to a wide range of services, from advanced digital security to high-end home networks and various entertainment offerings.
By integrating GlobalConnect's consumer fiber network into our own, we will extend our reliable and high-performance services to even more homes across the country, Telenor said.
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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 (89.8%): mobile and fixed-line telephony services, voice and data transmission, Internet access, messaging, TV channel broadcasting, sale of telecommunications equipment, etc.;
- telecommunications infrastructure management (4.1%): construction, development and leasing of towers, masts, buildings, etc.;
- other (6.1%): offshore telecommunications services, interconnection between operators, etc.
Net sales are geographically distributed as follows: Norway (34.7%), Sweden (18.6%), Bangladesh (17.4%), Finland (17.3%), Denmark (8.2%) and other (3.8%).
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