The Norwegian Competition Authority cleared Telenor to buy fibre company GlobalConnect’s domestic consumer business, subject to a handful of conditions including offloading some assets.

Telenor is required to divest fibre infrastructure at addresses both companies already serve. This will impact approximately 6,000 customers.

Around 9,000 GlobalConnect customers using Telenor’s network through resale agreements are also set to be transferred to another provider.

The competition authority’s third requirement involves giving rivals access to the fibre network being acquired, as is the case with Telenor’s existing network.

Telenor president and CEO Benedicte Schilbred Fasmer highlighted the deal strengthens its position in the market and “is good for customers and for market development”.

“Whilst we disagree that remedies were necessary, we are pleased to have reached a resolution,” the executive added, noting the transaction would bolster its customer numbers by 125,000 and take its market share in Norway’s consumer fibre market from 22% to 29%.

The deal is expected to complete in the second-half of the year, with a gradual customer transition afterwards.

Telenor noted the initial NOK6 billion ($634 million) purchase price would be adjusted after it meets the remedies and disclosed at that time.

GlobalConnect plans to continue to serve its base of 12,000 business customers in Norway, spanning enterprises of various sizes, the public sector and global cloud companies.

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Telenor is reportedly exploring a sale of its digital bank in Pakistan, marking a full exit from the country following the sale of its mobile unit which was completed in December 2025.

Bloomberg reported Telenor is working on offloading its 55% equity stake in Easypaisa Bank, which was formerly known as Telenor Microfinance Bank. According to sources, a sale could be worth “several hundred million dollars”.

Over the next month, Telenor will apparently invite initial offers from prospective bidders, although no final decision has been made on the fate of the stake.

The rest of Easypaisa is owned by Ant Group, and the mobile money service is popular for cash transfers in the nation.

In line with a strategy to dispose of businesses in Asia, Telenor sold its telecoms unit in the country for around $490 million to Pakistan Telecommunications Company.  

Selling its stake in the banking business would therefore end the Norwegian operator’s two decade long presence in the country.

In a comment cited by Bloomberg, analyst at DNB Carnegie Christoffer Wang Bjornsen said the move would be “well received by the financial community to see Telenor simplifying its Asian portfolio”.

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