Briefs: Telenor aims to gain control of Glocalnet
Telenor Wednesday made an offer for all outstanding shares in Glocalnet, a Swedish broadband provider.
The Norwegian telecommunications group has had a 36.6-percent stake in Glocalnet since 2002, and it will now be taking control of the company.
"Telenor aims to stand out as a leading player in the fast-growing Nordic broadband markets, and through the acquisition of Bredbandsbolaget in 2005, we have gained a strong foothold in Sweden," the head of Telenor Nordic, Morten Karlsen Sorby, said in a news release. "Glocalnet has gained a strong position in the low-end segment, and will be a good supplement to Bredbandsbolaget, thus further strengthening our market position."
Copyright 2006 by United Press International
Citation:
Briefs: Telenor aims to gain control of Glocalnet (2006, February 8)
retrieved 26 April 2024
from https://phys.org/news/2006-02-telenor-aims-gain-glocalnet.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no
part may be reproduced without the written permission. The content is provided for information purposes only.
