Telenor receives approval to acquire GlobalConnect’s consumer business

The Norwegian Competition Authority has approved Telenor’s acquisition of GlobalConnect’s Norwegian fibre business for residential customers. The transaction is valued at NOK 6 billion and is approved subject to remedies.

“This transaction strengthens Telenor’s position in the Norwegian broadband market and is good for customers and for market development. Whilst we disagree that remedies were necessary, we are pleased to have reached a resolution. We look forward to welcoming 125,000 new customers to Telenor”, says Benedicte Schilbred Fasmer, President and CEO of Telenor.

Conditions for approval

• As a condition of approval, Telenor and GlobalConnect are required to implement the following measures:
• GlobalConnect’s fibre infrastructure at addresses where Telenor also offers fibre shall be divested to another provider, including approximately 6,000 customers at such addresses.
• GlobalConnect’s approximately 9,000 resale customers using Telenor’s fibre network shall be transferred to another provider.
• The fibre network acquired from GlobalConnect shall be opened for competition through service providers, which already applies to Telenor’s existing network.

“This acquisition is in line with our strategy to develop and consolidate critical digital infrastructure across the Nordics, and is an important step in strengthening Telenor’s position in a market where scale and quality are becoming increasingly important”, says Fasmer.

Next steps
The transaction is expected to complete in autumn 2026. Customers acquired as part of the transaction will subsequently be migrated to Telenor’s platform on a gradual basis. In the meantime, they will retain their existing services and continue to be served as today.

GlobalConnect will continue to offer fibre capacity to the business market.

CT Bureau