Elmera Group ASA

M&A Activity • Aug 25, 2021

Fjordkraft Holding ASA: Fjordkraft acquires Skymobil’s mobile customer portfolio

Fjordkraft Holding ASA: Fjordkraft acquires Skymobil’s mobile customer portfolio

Fjordkraft acquires Skymobil’s mobile customer portfolio

Fjordkraft has signed an agreement with Skymobil AS regarding the acquisition of their portfolio of mobile customers.

-Fjordkraft has been a challenger in the Norwegian telecom duopoly since entering the market four years ago, and this was an opportunity we could not pass on, says Christian Kalvenes, EVP Consumer in Fjordkraft.

M&A more relevant with increased profitability

Skymobil AS was established in 2020 as a mobile service provider. Later in 2020, Skymobil acquired the customer portfolio of Hudya. Skymobil has been a price fighter, and the company has won several price comparisons in 2020 and 2021. Skymobil has just below 38,000 mobile subscribers in the Consumer market, distributed across all of Norway.

-We are entering into an MVNO platform, which will improve the profitability of our mobile business. This makes acquisitions more relevant, and scale is key in this business, says Arnstein Flaskerud, EVP Strategy and M&A in Fjordkraft.

Fjordkraft Mobil had close to 135,000 mobile subscribers at the end of Q2 2021 and is the largest mobile service provider without network operations.

No need for change of SIM

Skymobil has excelled in price comparisons for small data packages.

For the customers, the transition from Skymobil to Fjordkraft will be a seamless experience.

-Almost all of the customers will get terms as good or better than what they currently have, and the customers will not need to change their SIM cards due to the transaction, says Kalvenes.

The customers will also get access to an attractive loyalty program, a new and improved smart phone application and Fjordkraft’s award winning customer service. The customers will continue to be serviced through Telenor’s network.

For queries, please contact:

Morten A. W. Opdal, Head of Controlling and Investor Relations, +47 970 62 526