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Investing.com -- Telenor agreed to purchase GlobalConnect’s Norwegian consumer business in a deal worth over $592 million, the telecommunications provider announced Tuesday.
The acquisition includes fiber infrastructure and approximately 140,000 fiber customers, aligning with Telenor’s strategy to strengthen its position in the Norwegian fiber market.
"By integrating the consumer part of GlobalConnect’s fiber network into our own, we will extend our reliable and high-performing services to even more households across the country," said Telenor Chief Executive Benedicte Schilbred Fasmer.
The transaction, valued at 6 billion Norwegian kroner ($592.1 million), is expected to create synergies with Telenor’s existing operations and build long-term scale across its core telecom market.
Telenor estimates annual post-integration cost savings of around 150 million kroner, with integration capital expenditure of approximately 300 million kroner between 2026 and 2028.
The company noted that the Norwegian fiber market is highly fragmented and scale is necessary to provide sufficient operational and financial robustness.
The deal requires approval from the Norwegian Competition Authority before completion.
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