Sweden-based investment firm EQT Partners has announced that the EQT Infrastructure III fund has agreed to acquire Norway’s Broadnet from the EQT V and VI funds. EQT Infrastructure will reportedly support the continued development of Broadnet, which controls around 24,000km of fibre through its nationwide backbone network connecting more than 90 cities, while also assisting the operator ‘in pursuit of new opportunities to grow and commercialise its extensive fibre network assets’. No financial details of the transaction, which is expected to close next month, were disclosed.
Commenting on the matter, Broadnet CEO Martin Lippert was cited as saying: ‘The sale of Broadnet is another proof of our success over the last years. We have, through hard work from all employees and support from our owners, positioned Broadnet as a market leader within fibre infrastructure. We will continue the journey through further development of infrastructure and by providing outstanding customer experiences in the years to come. Broadnet is ideally positioned to take further market shares in a growing Norwegian fibre market, with the backing of our new owner who has extensive experience from our industry.’