Phonero buys Ventelo from Broadnet

Nieuws Algemeen Noorwegen 2 JUL 2014
Phonero buys Ventelo from Broadnet
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 2014.

Categories:

Algemeen

Companies:

Telenor,  Ventelo,  Broadnet

Countries:

Noorwegen

Tags:

Wireline, Wireless, Enterprise, M&A buyouts & divestments

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