Telenor Splits Ownership of Telenor Connexion with Verdane
Idag, 11:38
05:38 AM EDT, 05/12/2026 (MT Newswires) -- Telenor (TEL.OL) entered into an agreement to turn its specialized IoT business Telenor Connexion into a 50/50 ownership venture with Verdane.
As part of the transaction, which is expected to be completed in 2026, the telecommunications group will receive 3.8 billion kronor in cash and seller credit of 800 million kronor, according to a Tuesday release. The deal values Telenor Connexion at 7.5 billion kronor.
Mats Lundquist will continue as chief executive officer of Telenor Connexion, while former Nokia (NOKIA.HE) CEO Pekka Lundmark will join as an independent chair of the company.
The specialist growth equity investment firm will also acquire Telenor's ownership stakes in its portfolio companies BLDNG.ai and Whereby.
Telenor Splits Ownership of Telenor Connexion with Verdane
Idag, 11:38
05:38 AM EDT, 05/12/2026 (MT Newswires) -- Telenor (TEL.OL) entered into an agreement to turn its specialized IoT business Telenor Connexion into a 50/50 ownership venture with Verdane.
As part of the transaction, which is expected to be completed in 2026, the telecommunications group will receive 3.8 billion kronor in cash and seller credit of 800 million kronor, according to a Tuesday release. The deal values Telenor Connexion at 7.5 billion kronor.
Mats Lundquist will continue as chief executive officer of Telenor Connexion, while former Nokia (NOKIA.HE) CEO Pekka Lundmark will join as an independent chair of the company.
The specialist growth equity investment firm will also acquire Telenor's ownership stakes in its portfolio companies BLDNG.ai and Whereby.
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