Telia spends NOK 2.3 billion to buy Phonero in order to strengthen its position in the Norwegian mobile phone market.
The acquisition of Phonero is primarily intended to strengthen Telia’s position in the business market, says the company in a statement. Telia has previously strengthened their position in the retail market with the acquisition of Tele2.
– The acquisition will strengthen Telia’s position and we will also become a serious and powerful competitor for Telenor in the business market.
This is good news for all Norwegian companies and businesses, says CEO Abraham Foss in Telia Norway.
Phonero was established in 2008. The combined company will have a market share in the Norwegian business market for mobile communications at about 27 percent in terms of turnover for the first half of 2016.
Telenor has a market share of 66.9 percent.
The acquisition must be approved by the Konkurransetilsynet (Competition Authority) before it can be implemented.
Source: NTB scanpix / Norway Today