Telenor Divests 30% Of Norway Fiber Company for $1B - KKR & Co (NYSE:KKR), Telenor (OTC:TELNF), Telenor (OTC:TELNY)


  • Telenor ASA TELNF TELNY agreed to divest a minority stake in its Norway fiber assets to a consortium led by KKR & Co Inc KKR and Oslo Pensjonsforsikring for 10.8 billion kroner ($1 billion).
  • The deal is part of a strategy by Norway’s biggest telecommunications company to highlight the value of its infrastructure and free up capital to lay down more fiber in the country, Bloomberg reports.
  • The price represents an enterprise value for the Norwegian fiber business of 36.1 billion kroner.
  • Also Read: Telecom Italia Seeks To Divest $21.5B Landline Network To Cut Down On Debt, Commence Fiber Launch
  • Telenor plans to use part of the proceeds to buy back shares.
  • The business generated a proforma EBITDA of 1.7 billion kroner in 2021.
  • The newly established company is a subsidiary of Telenor and will be a part of the Infrastructure business area.
  • It will own the passive fiber assets in Norway and includes 130,000 kilometers (81,000 miles) of cable.
  • Telenor maintains control of the company with 70% of the shares.
  • The transaction will likely be complete in early 2023.
  • Price Action: TELNF shares closed at $8.95 on Thursday.


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