Telenor’s latest DSL acquisition approved

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.