Telenor Sells Communication Operator and Fibre To The Home Unit in Sweden For $335.7 Million
November 24 2021 - 3:20AM
Dow Jones News
By Dominic Chopping
Norwegian telecom provider Telenor ASA said Wednesday that it
has agreed to sell Open Universe, its communication operator which
delivers services on third party infrastructure, as well as part of
its fibre-to-the-home business in Sweden to Global Connect AB for 3
billion Norwegian kroner ($335.7 million).
The company said the deal is part of its simplification strategy
and Telenor Sweden will now focus on developing its offers to
retail customers within mobile, broadband and TV.
In 2020, earnings before interest, tax, depreciation and
amortisation from Open Universe and the single dwelling unit
fibre-to-the-home accesses was around 240 million Swedish kronor
($26.6 million), it said.
The transaction is expected to create a pretax gain on disposal
of NOK1.7 billion and is expected to be finalised in early
2022.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
November 24, 2021 03:05 ET (08:05 GMT)
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