Telenor has signed an agreement to acquire the Norwegian consumer fibre business of GlobalConnect in a deal valued at NOK 6.0 billion (US$506 million). The acquisition includes fibre infrastructure and around 140,000 residential customers. This move solidifies Telenor’s strategic ambition to grow its footprint in Norway’s fibre broadband market, increasing its fibre market share from 22% to 29%, according to 2024 NKOM data.
The transaction provides Telenor with significant scale and operational synergies across its telecom operations. It anticipates NOK 0.3 billion in EBITDA annually for the first two years post-integration, with free cash flow expected to reach NOK 0.45 billion by 2028, excluding financing costs. Integration capex is estimated at NOK 0.3 billion through 2028, mostly front-loaded in the initial years. Telenor also forecasts NOK 0.15 billion in yearly cost savings due to infrastructure consolidation and improved operational efficiency.
The acquisition comes as GlobalConnect pivots its B2C strategy in the Nordics toward wholesale services. CEO Martin Lippert said the move aligns with GlobalConnect’s long-term focus, ensuring a strong future for its former consumer business under Telenor’s management. The deal is pending approval from the Norwegian Competition Authority.
- Deal value: NOK 6.0 billion
- Acquired assets: 140,000 fibre customers and associated infrastructure
- Telenor fibre market share increase: 22% → 29%
- Expected EBITDA: NOK 0.3 billion (2026–2027)
- Free cash flow forecast: NOK 0.45 billion by 2028
- Cost savings estimate: NOK 0.15 billion annually
- Integration capex:
