FORNEBU (dpa-AFX) - Telenor ASA (TELN, TELNY.PK, TEL.OL), a major Norwegian telecom company, said on Monday that the Norwegian Competition Authority has approved Telenor's acquisition of GlobalConnect's Norwegian fibre business for NOK 6 billion. The transaction is expected to be closed in autumn 2026.
As a condition of approval, the regulator has asked GlobalConnect to divest its fibre infrastructure to another provider at addresses where Telenor also offers fibre, including around 6,000 customers at such addresses.
As per the conditions, GlobalConnect's around 9,000 resale customers, who use Telenor's fibre network, should be transferred to another service provider.
The fibre network to be acquired from GlobalConnect should be opened for competition through service providers, which already applies to Telenor's existing network.
Following implementation of these remedies, the acquisition encompasses around 125,000 fibre customers. Post-transaction, Telenor's share of the consumer fibre market is expected to rise from 22% to 29%.
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