Telenor to sell Open Universe, fiber assets to GlobalConnect Sweden
Telenor Sweden and GlobalConnect Sweden have separately announced an agreement that calls for Telenor to sell its Open Universe subsidiary and its SDU fiber infrastructure assets in Sweden to GlobalConnect Sweden. The deal, worth SEK 3 billion ($330 million), is expected to close in the first quarter of next year, subject to approval by the Swedish Competition Authority.
GlobalConnect will receive access to approximately 200,000 connected homes via Open Universe and 14,000 connected homes via the SDU fiber infrastructure. The impending new owners say that Open Universe will continue to use its current brand name and its operating model will remain unchanged.
The deal follows GlobalConnect’s strategy of growth by acquisition; the company was created via the 2019 and 2020 mergers between Broadnet, GlobalConnect, and IP-Only. “We see market consolidation as a natural development in our industry, which will ultimately accelerate digitization and social inclusion across society. We will therefore continue to explore possible acquisitions across all our markets, given that they fit our business model and can contribute to an even stronger offering to our customers,” commented Martin Lippert, CEO of GlobalConnect Group. “Acquiring Open Universe and valuable fiber assets from Telenor Sweden fits perfectly into our strategy.”
For its part, Telenor said it will continue to offer services via the Open Universe platform. The sale will enable Telenor to focus on its core business of service provision – one that doesn’t necessarily require Telenor to own the infrastructure over which it delivers these services, the company stated.
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Stephen Hardy | Editorial Director and Associate Publisher, Lightwave
Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.
Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.
He has written numerous articles in all aspects of optical communications and fiber-optic networks, including fiber to the home (FTTH), PON, optical components, DWDM, fiber cables, packet optical transport, optical transceivers, lasers, fiber optic testing, and more.
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