The KKR-led consortium has completed the acquisition of a 30% stake of around NOK10.8 billion (US$1 billion) in Telenor's passive fibre infrastructure company, Telenor Fiber in Norway.

The transaction aims to strengthen fibre coverage in Norway and provide consumers with increased access to high-speed fixed, mobile and TV offerings. KKR has significant expertise in digital infrastructure and shares a long-term perspective on the Nordic telecoms market. 

Telenor Fiber will own 130,000 km of cables connecting more than 560,000 homes in Norway. It is a subsidiary of Telenor. Telenor owns both fixed-line and mobile networks, though fixed-line services (telephony, Internet, TV, data services) provide around 10% of service revenue. The firm's fixed-line operations are in Sweden, Norway, Finland and Denmark. In the rest of its markets, Telenor offers only mobile services.