Telenor Sweden to Sell its Fiber Assets

Telenor’s Sweden unit will divest subsidiary Open Universe and its single dwelling unit (SDU) fiber infrastructure assets to GlobalConnect Sweden for SEK3 billion ($330.5 million). The operator points out that the sale will sharpen its focus on core services including mobile.

GlobalConnect imparted in a statement the deal would significantly boost its fiber presence, taking control of approximately 200,000 connected homes from Open Universe’s platform and 14,000 homes currently connected by Telenor Sweden’s infrastructure. The acquirer added it would look to build on Open Universe’s platform and business model, and keep the brand and operating model intact while working to strengthen collaboration with municipalities, property owners, and city networks. It believes the integration with Open Universe makes GlobalConnect one of the leading communications operators in the country.

For Telenor Sweden, the company said the deal would enable it to concentrate on providing mobile, broadband, and TV services to its end users. It would also continue to supply fiber through a wholesale partnership with GlobalConnect. SDU fiber assets will be incorporated into GlobalConnect’s FTTH operations, again boosting its fiber presence in the country. The deal is subject to regulatory approval and is expected to be finalized in the first quarter of 2022.