Telia Company acquires Phonero in Norway

Telia Company acquires Norwegian Phonero at an enterprise value of NOK 2,300 million on a cash and debt free basis. The transaction will strengthen Telia’s position in the Norwegian enterprise segment and expects to generate annual cost synergies of approximately NOK 400 million.Phonero offers telecommunication services to small and medium sized corporate customers as well as public companies in Norway. Phonero’s customer base comprises 25,000 invoiced enterprises with approximately 250,000 mobile subscriptions. The transaction will increase Telia’s market share in the mobile enterprise