Norway may block Telenor's $620 million GlobalConnect deal
27/03/2026 09:00
OSLO, March 27 (Reuters) - Norway's Competition Authority may ban Telenor's TEL.OL 6 billion crown ($620.4 million) acquisition of GlobalConnect's consumer business in the Nordic country, the regulator said on Friday. Telenor and GlobalConnect announced transaction in July 2025 Deal intended to strengthenTelenor's position in the Norwegian fibre market. Regulator "concerned that many consumers may face more expensive and lower-quality broadband services due to weakened competition". Telenor and GlobalConnect provide broadband access to consumers and housing associations in many locations where they are close competitors. Regulator's concerns also include the market for TV services to consumers. Notice does not constitute a final decision. Deadline for final decision by regulator is May 15. ($1 = 9.6706 Norwegian crowns) (Reporting by Terje Solsvik) ((terje.solsvik@thomsonreuters.com; +47 918 666 70))