ENIVEST acquired by TELENOR

Telenor has entered into an agreement to acquire Enivest, a leading fiber optic operator in western Norway. The transaction encompasses Enivest's entire fiber business, including its telecommunications network, approximately 28,000 customers, and a 34% stake in Årdalsnett, a regional operator serving nearly 3,000 additional customers. This acquisition is part of Telenor's strategy to consolidate the Norwegian broadband market. The company believes that increasing the scale of operators is crucial to ensuring the resilience of digital infrastructure, optimizing investments, and maintaining high-performance services in a market that remains largely fragmented. For Telenor, the acquisition significantly strengthens its presence in western Norway, a region considered particularly attractive for digital infrastructure development. The company plans to leverage Enivest's strong local roots while offering its customers an expanded range of services, including cybersecurity solutions, digital entertainment, and other value-added services. Enivest will continue to operate under its own brand and retain its current management team to ensure operational continuity and preserve existing relationships with local communities and regional customers. Telenor also plans to invest approximately NOK 150 million in integration efforts and network infrastructure upgrades. This investment will enable the company to enhance its services and further solidify its position in the Norwegian market.