Telenor has announced the NOK 6.0 billion acquisition of GlobalConnect’s consumer fibre business in Norway, significantly strengthening its position in the national fibre broadband market.
The deal, which includes around 140,000 fibre customers and the supporting infrastructure, aligns with Telenor’s long-term strategy to expand its fibre footprint and enhance connectivity services across the country.
Consumer Benefits
Consumers joining Telenor through this acquisition will enjoy a broader portfolio of services, including advanced digital security tools, premium home network solutions, and a diverse range of entertainment offerings. These services will be backed by Telenor’s established track record in reliable connectivity and high-quality customer support.
Telenor also promises continued investments in fraud prevention, secure WiFi, and digital protection – reinforcing its position as Norway’s digital safety net. The integration aims to improve service coverage, quality, and innovation for end-users, ensuring they receive enhanced value from their broadband provider.
Telenor’s Strategy and Fibre Focus
The acquisition is a strategic move in Telenor’s ambition to consolidate and scale its fibre operations in Norway. With the Norwegian fibre market remaining fragmented, Telenor is leveraging this opportunity to boost its fibre market share from 22 percent to 29 percent, according to 2024 NKOM data. This scale is critical to achieving operational robustness and delivering long-term efficiencies.
Telenor is positioning fibre as a core pillar of its future growth strategy, reflecting rising consumer demand for high-speed, secure, and dependable internet. The deal creates a stronger foundation for future innovation and supports Telenor’s commitment to strengthening Norway’s digital infrastructure.
Financial and Operational Outlook
From a financial perspective, the deal is expected to deliver strong returns:
Revenue contribution of over NOK 0.6 billion in 2024.
Estimated EBITDA of NOK 0.3 billion annually in the initial two years post-integration.
Projected free cash flow to reach NOK 0.45 billion by 2028, excluding financing costs.
Telenor anticipates cost savings of approximately NOK 0.15 billion annually, driven by integration of backbone operations and efficiencies in sales, maintenance, and support functions. Integration-related capex is expected to total NOK 0.3 billion between 2026 and 2028, primarily within the first two years.
Pending regulatory approval, the transaction is expected to further solidify Telenor’s leadership in Norway’s fibre market, delivering scalable benefits for both consumers and the company.
Baburajan Kizhakedath
