Telenor ASA — M&A Activity 2021

Nov 24, 2021

Telenor divests its communication operator Open Universe and SDU fibre in Sweden

Telenor divests its communication operator Open Universe and SDU fibre in Sweden

Telenor has agreed to divest Open Universe and the company’s fibre to the home (FTTH) accesses in the single dwelling unit (SDU) segment to Global Connect for a total consideration of NOK 3 billion. The sale includes around 200,000 ports in the open fibre neworks model and approximately 14,000 single dwelling unit fibre to the home accesses. The transaction is a part of the company’s simplification strategy and Telenor Sweden will focus on developing its offers to the retail customers within mobile, broadband and tv. Telenor will keep the customer relationship through its Internet Service Provider operation.

Open Universe is a communication operator which delivers services on third party infrastructure. In 2020, EBITDA from Open Universe and the SDU FTTH accesses was approximately SEK 240 million.

The transaction is expected to create a pre-tax gain on disposal of NOK 1.7 billion. The transaction is subject to regulatory approval and is expected to be finalised early 2022.

Investor relation:

Øystein Myrvold, +47 99230460

Håkon Hatlevik, +47 90146070