Telenor linked with possible takeover bid for Vodafone

8 Aug 2005

Norway’s Telenor is rumoured to be preparing a takeover bid for Vodafone Sweden, according to the UK’s Business newspaper. The buyout, estimated to be worth USD945 million, is seen as the ideal way for Telenor to boost its operations in Sweden where it currently has just over 100,000 subscribers. It currently languishes well behind market leader TeliaSonera which has an estimated subscriber base of 4.3 million. Vodafone is presumed to be disillusioned with its Swedish operation, despite controlling 1.5 million mobile subscribers, and is frustrated by slow growth in a saturated market with few opportunities for growth for the global operator. The Norwegian firm refused to comment on the rumours while Vodafone repeated a previous statement that it was happy with its investment in the Swedish subsidiary.

Norway, Sweden, Telenor Group, Telenor Sweden