Telenor’s latest DSL acquisition approved

16 Mar 2006

The Swedish competition authority has approved a deal under which Norwegian telco Telenor paid SEK136 million (EUR14.64 million) to up its ownership in Swedish broadband provider Glocalnet from 36.6% to 50.1%. Telenor immediately made a public offer of SEK500 million (EUR54 million) for all outstanding shares in the company and, according to local news reports, has gained at least 86% of total stock to date. At the end of 2005 Glocalnet had 104,000 ADSL customers, up from 92,000 at the end of September, making it Sweden’s fourth largest broadband provider.

Sweden, Telenor Group