Norwegian mobile operator Telenor will enter the Finnish telecoms market after a...
OSLO - Norwegian mobile operator Telenor will enter the Finnish telecoms market after agreeing to buy a controlling stake in the country’s third largest mobile firm DNA.
The company has spent much of the last three decades focused on growing its presence in emerging markets, building operations from scratch rather than taking over existing companies, but has recently withdrawn from central Europe and is gradually selling its stake in Veon, formerly known as Vimpelcom.
“With the transaction, Telenor gets a strong position across fixed and mobile in an attractive and growing telecom market, and further strengthens its position in the Nordic region,” the company said. “We believe this is a good deal from Telenor’s perspective,” JP Morgan said in a note to clients, adding that the deal made sense by expanding Telenor’s pan-Nordic footprint.
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