Telenor acquires Bahnhof

Telenor Group has agreed to acquire a controlling stake in Swedish broadband provider Bahnhof, valuing the company at SEK 6.1 billion. The deal involves purchasing shares from founders Jon Karlung and Andreas Norman (50.8% of shares, 86% of votes) at SEK 60 per share, and from Öresund Investment (6.7% of shares) at SEK 62 per share. This will trigger a mandatory cash offer to remaining shareholders at SEK 62 per share. The acquisition will increase Telenor's consumer fixed broadband market share in Sweden from approximately 15% to 27%, making it the second-largest provider behind Telia. Bahnhof will continue to operate under its own brand. The transaction is subject to regulatory approvals and is expected to close within four to eight months. Telenor expects significant synergies, with an average annual EBITDA uplift of around SEK 700 million over the first four years, before integration costs of about SEK 100 million per year.