Norway's Telenor buys fibre operator Enivest for $264 million
Norway's Telenor buys fibre operator Enivest for $264 million June 10 (Reuters) - Norwegian telecom operator Telenor TEL.OL said on Wednesday it has agreed to acquire fibre operator Enivest for 2.5 billion Norwegian crowns ($263.55 million), expanding its broadband footprint in western Norway.
The acquisition includes Enivest's fibre network and approximately 28,000 customers, as well as a 34% stake in Årdalsnett, which has around 3,000 customers.
"We will continue to invest in robust digital infrastructure in Norway and have clear ambitions to grow within broadband, including through acquisitions," Telenor CEO Benedicte Schilbred Fasmer said.
In 2025, Enivest reported revenues of about 290 million crowns and EBITDA of around 130 million, and expects EBITDA growth of around 12% in 2026.
Telenor expects synergies to be realised over time, including through upselling and cross-selling of its broader product portfolio.
Telenor plans to invest about 150 million crowns over time in integration and network upgrades.
Enivest's top owner was energy group Eviny with 55.8%.
($1 = 9.4859 Norwegian crowns)
(Reporting by Jagoda Darlak, editing by Terje Solsvik)
((Jagoda.Darlak@thomsonreuters.com; +48 58 769 65 40;))