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General

Phonero buys Ventelo from Broadnet

Wednesday 2 July 2014 | 12:15 CET | News
Broadnet unit Ventelo has announced its sale to Phonero, which it said will create the largest rival to Telenor on the business market. The merged company will have revenue of more than NOK 1 billion. It said Ventelo had enterprise revenue of NOK 784 million in 2013 with a pre-tax profit of NOK 43 million, and Phonero had NOK 318 million enterprise revenue and a NOK 35 million pre-tax profit. The companies supply both mobile and fixed line services to the corporate and public sector. The deal is subject to clearance from competition authorities and is expected to be completed on 31 August

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Categories: General
Companies: Broadnet / Telenor / Ventelo
Countries: Norway
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