TEL

Norway's competition authority (Konkurransetilsynet) has approved Telenor's acquisition of GlobalConnect's Norwegian residential fiber business. The transaction is valued at NOK 6 billion and is approved subject to remedial conditions.

The Norwegian Competition Authority has approved Telenor's acquisition of GlobalConnect's Norwegian fibre business serving residential customers. The deal gives Telenor expanded consumer fibre infrastructure in Norway. No financial terms were disclosed in the announcement.

Telenor has entered into an agreement with private equity firm Verdane to establish joint ownership of Telenor Connexion, its IoT subsidiary, valuing the company at SEK 7.5 billion. The partnership is intended to unlock the value of Telenor Connexion's market position while providing access to long-term growth capital through a new ownership structure. No further financial terms were disclosed in the announcement.

Telenor has agreed with private equity firm Verdane to create a joint ownership structure over Telenor Connexion, its IoT connectivity subsidiary, with the stated aim of building a global IoT leader. Financial terms of the deal were not disclosed in the announcement. The transaction represents a partial divestiture of Telenor Connexion rather than a full sale.