Telenor sells 30% stake in Telenor Fiber to KKR consortium
Telenor has entered into an agreement with the investment firm Kohlberg Kravis Roberts & Co. LP (KKR) for the sale of a 30% stake in its subsidiary Telenor Fiber.
Telenor Fiber will own 130,000 km of cables connecting more than 560,000 homes in Norway. The agreed sale price is NOK36.1 billion (US$3.3 billion) and Telenor's revenue is approximately NOK10.8 billion (US$1 billion). Telenor's EBITDA was NOK1.7 billion (US$157 million) in 2021. After the transaction, all operational processes will remain under the full control of Telenor, with Telenor Norge as the sole customer.
Telenor Fiber 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.
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