Telenor acquires LOS Bynett and Bynett Privat
(Thomson Reuters ONE) -
(Press release: 8 July 2011). Telenor has reached an agreement with Agder Energi
to acquire the fibre companies LOS Bynett AS and Bynett Privat AS.
- We are very satisfied that Telenor is taking over and developing the two
companies' broadband initiative in Vestfold and the Agder counties. This sale is
in line with our group strategy, and we are confident that a more optimal
development is thus secured for these enterprises in the time ahead, says Unni
Farestveit, group director of markets in Agder Energi.
LOS Bynett builds fibre-optic high-speed networks for the corporate market and
the public sector, while Bynett Privat supplies private households. All 23
employees in Vestfold and the Agder counties will keep their jobs.
- Telenor has stated that they want to invest in fibre development and that the
employees of LOS Bynett and Bynett Privat are an important resource in these
efforts, says Ms Farestveit.
- 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 centre in Arendal. The strong
local business community, population growth and strong purchasing power make
this an attractive region, says Mr Ragnar Kårhus, CEO of Telenor Norway.
Telenor Norway, along with its subsidiary Canal Digital Kabel TV AS, is a major
player in the broadband field, but currently mainly supplies services via DSL
and coax technology (copper and cable). The acquisition of LOS Bynett and Bynett
Privat strengthens Telenor's position in the fibre market in an attractive part
of the country. The enterprises have 9,600 private customers and approx. 900
corporate customers. Both these customer bases are of a high quality. The
companies had revenues of NOK 89 million in 2010. The corporate customer base
accounted for almost 50 per cent of the revenue.
- 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, says Mr
Kårhus.
The price to be paid for the two companies is NOK 300 million. The acquisition
is contingent on approval from the Norwegian Competition Authority.
Contact persons:
Bjørn Ivar Moen, head of the Product and Business Development division in
Telenor Norway.
Mobile phone: (+47) 90 92 11 17
Kristine Meek, information manager in Telenor Norway.
Mobile phone: (+47) 91 88 54 05
Unni Farestveit, group director of markets in Agder Energi.
Mobile phone: (+47) 91 66 44 95
Information about Agder Energi: www.ae.no
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Telenor via Thomson Reuters ONE
[HUG#1529673]
Unternehmensinformation / Kurzprofil:
Datum: 08.07.2011 - 16:01 Uhr
Sprache: Deutsch
News-ID 56261
Anzahl Zeichen: 3618
contact information:
Town:
OSLO
Kategorie:
Business News
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"Telenor acquires LOS Bynett and Bynett Privat"
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