Telenor lined up a purchase of GlobalConnect’s consumer fibre operation in Norway, a transaction valued at NOK6 billion ($596.2 million) which will bring thousands of additional households under the operator’s wing.

Fibre infrastructure and around 140,000 customers are part of Telenor’s arrangement. It highlighted the move as significant in terms of its position in the Norwegian market, along with the potential to create long-term strength through synergies.

Telenor predicted its share of fibre subscriptions in Norway would rise from 22 per cent to 29 per cent, based on data covering 2024 issued by the Norwegian Communications Authority (NKOM).

It highlighted GlobalConnect’s consumer unit generated NOK600 million in revenue during 2024 and predicted EBIDTA of NOK300 million per year in the first two years of operation after integration and restructuring costs.

Cost savings could stand at NOK150 million, “driven by backbone integration and scale efficiencies”, Telenor stated.

Telenor president and CEO Benedicte Schilbred Fasmer said the GlobalConnect deal would extend its fibre service opportunity by bringing more households into its reach, a “strategic step forward”.

It plans to offer digital security and high-quality home network services, along with entertainment offerings.

Fasmer said Telenor would “keep raising the bar” for customers.

The operator also highlighted security credentials including ongoing investment in fraud prevention, providing secure Wi-Fi and digital protections.

GlobalConnect CEO Martin Lippert said its consumer business in Norway booked “consistent growth over many years”.

He explained the company is focused on becoming a pure wholesale provider, meaning it made sense to sell its consumer unit.

Lippert offered business customers and other carriers assurances the areas would “remain a strategic focus” for GlobalConnect, with ongoing investments planned.

NKOM approval is required.