Telenor Sweden offloads fibre assets - Mobile World Live

Telenor Sweden offloads fibre assets

24 NOV 2021

Telenor Group’s Sweden unit agreed a deal to divest subsidiary Open Universe and its single dwelling unit (SDU) fibre infrastructure assets to GlobalConnect Sweden for SEK3 billion ($330.5 million), as the operator looks to sales to sharpen its focus on core services including mobile.

GlobalConnect imparted in a statement the deal would significantly boost its fibre presence, taking control of approximately 200,000 connected homes from Open Universe’s platform and 14,000 homes currently connected by Telenor Sweden’s infrastructure.

The acquirer added it would look to build on Open Universe’s platform and business model, and keep the brand and operating model intact while working to strengthen collaboration with municipalities, property owners and city networks.

It believes the integration with Open Universe makes GlobalConnect “one of the leading communications operators in the country”.

For Telenor Sweden, the company said the SEK3 billion deal would enable it to concentrate on providing mobile, broadband and TV services to its end users. It would also continue to supply fibre through a wholesale partnership with GlobalConnect.

Natural development
In addition to fibre broadband Open Universe also offers fixed-line telephony, TV and smart home services.

Telenor Sweden’s SDU fibre assets will be incorporated into GlobalConnect’s FTTH operations, again boosting its fibre presence in the country.

Martin Lippert, CEO of GlobalConnect Group said it saw market consolidation “as a natural development” and it would continue to explore possible acquisitions.

The deal with Telenor Sweden is subject to regulatory approval and is expected to be finalised in Q1 2022.

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Kavit Majithia

Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >>

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