Home » Business » Telenor sells for NOK 3 billion to EQT

Telenor sells for NOK 3 billion to EQT

Telenor has entered into an agreement to sell the communications operator Open Universe and the company’s villa fiber infrastructure to Global Connect for NOK 3 billion, according to a statement on Wednesday.

The sale is expected to give Telenor a gain of NOK 1.7 billion before tax.

Selling to acquisition fund

Global Connect is owned by the Swedish acquisition fund EQT and a result of several mergers. The fund entered Danish Global Connect for the first time in 2017. The following year, it was merged with Broadnet, and after another year, this was again merged with another EQT-owned company: IP Only.

At the time, DN wrote about a major merger in fiber that would give Telenor and Telia greater competition.

Global Connect has its own nationwide fiber network in Norway. In total, the company owns and operates more than 84,000 kilometers of fiber 27,000 square meters of secure data centers in Norway, Denmark, Sweden, Finland and northern Germany.

Last year, the group had a turnover of around 581 million euros, corresponding to around 5.8 billion kroner.

200.000 porter

Telenor’s sales to Global Connect include around 200,000 ports in open fiber networks and fiber access to around 14,000 residential customers, it is stated in Wednesday’s announcement.

In 2020, operating profit before depreciation (ebitda) from Open Universe and villa fiber amounted to around NOK 240 million. The company is a communications operator that provides services on third-party infrastructure.

For Telenor’s part, the sale is part of the Swedish company’s strategy to simplify operations and concentrate on the end customer market, it is stated. Telenor will retain end customers on the company’s ISP solution after the sale.

Structures in Asia

Sales in Sweden have joined the series of several Telenor transactions recently. Telenor recently announced that it will merge its Thai subsidiary Dtac with competitor True.

Earlier this year, Telenor entered into an agreement with the Malaysian telecom company Axiata on a merger of its Malaysian mobile operations.

This summer, it was also announced that Telenor has written down all the values ​​of its operations in Myanmar. The telecom company has announced the sale of the business to the Lebanese M1 Group, but the transaction has not yet been approved by the military junta. (Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other use of all or part of the content may only take place with written permission or as permitted by law. For further terms see here.

Leave a Comment