GlobalConnect welcomes approval of divestment of Norwegian B2C business

Following approval from the Norwegian Competition Authority, GlobalConnect and Telenor can move forward with the divestment of GlobalConnect's Norwegian B2C business, while GlobalConnect continues to invest in and grow its B2B and carrier operations in Norway.

The Norwegian Competition Authority has approved Telenor's acquisition of GlobalConnect's Norwegian B2C business. The approval enables the parties to move forward towards closing based on certain remedies being implemented.

"Today's approval is an important milestone in the execution of our strategy to focus our Nordic activities. Closing this transaction will enable us to further sharpen our focus and investments in the areas where we see the strongest growth opportunities going forward. This includes supporting the digital development of businesses, public institutions and global cloud and technology companies through critical digital infrastructure and connectivity solutions across Norway and the Nordics," says Martin Lippert, CEO of GlobalConnect.

The transaction includes GlobalConnect's Norwegian B2C fibre infrastructure, approximately 125,000 customer relationships and the transfer of the Norwegian B2C organisation to Telenor.

"Over the past decade, our Norwegian B2C organisation has built a strong and successful business with a high-quality fibre footprint and a loyal customer base. What is particularly impressive is that the team has continued to deliver growth and strong results while navigating this transaction process. I would like to thank all colleagues for their dedication, professionalism and continued focus on serving our customers every day," says Martin Lippert.

Until closing, GlobalConnect will continue to operate the business as usual, serving customers and supporting employees as today.

Following completion of the transaction, GlobalConnect will continue its operations in Norway with offices in Oslo and Kristiansand, approximately 300 employees and around 12,000 business customers, ranging from SMEs and large enterprises to public institutions, and global cloud and technology companies. Norway will continue to play a central role in GlobalConnect's Nordic operations, hosting significant parts of the Nordic finance organisation as well as key technology and infrastructure functions. The company will continue to invest in digital infrastructure, connectivity and carrier services.

The transaction is expected to close during autumn 2026, subject to the fulfilment of customary closing conditions.