The Norwegian Competition Authority cleared Telenor to buy fibre company GlobalConnect’s domestic consumer business, subject to a handful of conditions including offloading some assets.

Telenor is required to divest fibre infrastructure at addresses both companies already serve. This will impact approximately 6,000 customers.

Around 9,000 GlobalConnect customers using Telenor’s network through resale agreements are also set to be transferred to another provider.

The competition authority’s third requirement involves giving rivals access to the fibre network being acquired, as is the case with Telenor’s existing network.

Telenor president and CEO Benedicte Schilbred Fasmer highlighted the deal strengthens its position in the market and “is good for customers and for market development”.

“Whilst we disagree that remedies were necessary, we are pleased to have reached a resolution,” the executive added, noting the transaction would bolster its customer numbers by 125,000 and take its market share in Norway’s consumer fibre market from 22% to 29%.

The deal is expected to complete in the second-half of the year, with a gradual customer transition afterwards.

Telenor noted the initial NOK6 billion ($634 million) purchase price would be adjusted after it meets the remedies and disclosed at that time.

GlobalConnect plans to continue to serve its base of 12,000 business customers in Norway, spanning enterprises of various sizes, the public sector and global cloud companies.

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