Norlys to sell 35% of fibre firm Norlys Tele to PGGM, EDF Invest

Danish energy and telecoms firm Norlys, formed in June 2019 by the merger of energy and telecoms group Syd Energi (SE) and regional utility Eniig, has entered into a conditional agreement to sell 35% of its fibre company Norlys Tele to a consortium comprising Dutch pension fund PGGM and EDF Invest (the investment arm of French energy group EDF) for an undisclosed sum. The deal is subject to approval from the relevant regulatory authorities and Norlys’ shareholders (to be put up for vote at the extraordinary general meeting on 22 March 2022). Norlys Tele’s fibre-optic network covers more than 700,000 households, primarily in Jutland, with plans to extend the footprint to one million by the end of 2023 via ongoing expansion to Funen and Zealand; the open access network allows consumers to choose services from providers such as YouSee, Hiper, Telenor, Telia and Stofa.