Telenor ASA Acquires LOS Bynett and Bynett Privat from Agder Energi

Telenor ASA announced that Telenor Norway acquired all the shares in LOS Bynett and Bynett Privat from Agder Energi on October 1, 2012, based on an agreement signed in summer 2011. LOS Bynett builds high-speed fiber-optic networks for the business market and public sector, and Bynett Privat delivers to private households. The companies will continue as they are, with the current management and same service offering until the end of 2013, after which Telenor will assess how to integrate the companies with the rest of their operations. The Norwegian Competition Authority began processing the acquisition in autumn 2011 and concluded in March 2012 that Telenor Norway could implement the acquisition on certain conditions. The main features of this involve selling/making accessible LOS Bynett's transport infrastructure in the counties of Agder and sub-letting transport infrastructure in Vestfold. In addition Telenor must accommodate any reasonable requests for access for business customers within the area covered by LOS' access network. The Norwegian Competition Authority approved the transaction on August 8, 2012, when all the conditions had been met.