The acquisition will see Telenor acquire a portfolio of 370,000 households, as well as all 68 employees at the company.
It is hoped that the acquisition will strengthen Telenor’s position as a leading provider of fixed broadband and television services.
Lars-Åke Norling, CEO of Telenor Sweden, said: “Telenor aims to provide optimal connectivity and we want to continue our commitment on fixed broadband and TV through our brand Bredbandsbolaget [Telenor’s internet provider].”
“This topic is priority for us and our new customers and employees will play a vital role in our business going forward,” he added.
The deal is subject to approval by the Competition Authority before completing.
Telenor was one of two successful winners in Myanmar’s spectrum auction earlier this year and in October, Telenor and second victor Ooredoo were in talks over sharing infrastructure costs in the country.
