Telenor acquires fiber companies LOS Bynett and Bynett

Telenor announced that it reached an
agreement with electrical utility Agder Energi to acquire the fiber companies
LOS Bynett and Bynett for NOK 300 million.

Telenor Norway will use the
companies to further its expansion into
fiber-based broadband
services delivery.

LOS Bynett builds fibre-optic networks for the corporate market and the public
sector, while Bynett Privat supplies private households. Combined, the two
companies have 9,600 private customers and approximately 900 corporate
customers. The companies had revenues of NOK 89 million in 2010. The corporate
customer base accounted for almost 50 percent of this revenue.

All 23 employees in Vestfold and the Agder counties will keep their jobs.

Telenor’s aim is to further develop these enterprises as part of Telenor’s
fixed broadband activities in Norway. We have great faith in the region
comprising the Agder counties and Vestfold, and Telenor has already established
a regional office in Kristiansand and a security center in Arendal. The strong
local business community, population growth, and strong purchasing power make
this an attractive region,” said Ragnar Karhus, CEO of Telenor Norway.

LOS Bynett and Bynett Privat will carry on with the same management and range
of services as today. In a more long-term perspective we will consider
integration of the companies with our other businesses and services,” Karhus added.

By Team
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