FORNEBU, Norway -- Telenor has today signed an agreement with OTE to acquire Bulgarian mobile operator Globul for a total amount of EUR 717 million on a cash and debt free basis. Globul is the second largest mobile operator in Bulgaria with 4.5 million subscribers and a market share of 36 percent. The transaction also includes Germanos Bulgaria, the leading telecom retailer in the country operationally integrated with Globul. "Based on our experience in Telenor's well-performing operations in the region, we strongly believe that we will be able to create value in the Bulgarian market. By contributing with our scale and experience to Globul's competence and market knowledge, we can offer even better quality and more advanced services to Bulgarian customers," says Jon Fredrik Baksaas, President and CEO of the Telenor Group. In Central and Eastern Europe, Telenor Group is currently present in Hungary, Serbia and Montenegro. The company is a leader in terms of mobile revenue share in Serbia and Montenegro. Telenor ASA