Telenor Completes Cybercity Acquisition

Telenor's acquisition of Cybercity approved by the Danish Competition Authority

July 5, 2005

1 Min Read

FORNEBU, Norway -- On 23 May this year, Telenor acquired the Danish Internet provider Cybercity, an acquisition that has today been approved by the Danish Competition Authority. With this approval, Cybercity has now become a full member of the Telenor family of companies.

"The approval from the Danish authorities was anticipated, and we are pleased to see the formal aspects of the acquisition settled," said Morten Karlsen Sørby, Executive Vice President of Telenor. Cybercity is a well-managed operation, and together with SONOFON Telenor now has a solid platform in the Danish market.

Cybercity is Denmark's third largest provider of broadband services. The company has approximately 90,000 customers, and a market share of 8 per cent. Cybercity provides services primarily to the consumer and SME markets, and the company's infrastructure covers 70 per cent of the Danish territory. Telenor paid NOK 1,385 million on a debt free basis for Cybercity.

Telenor ASA

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like