Norvestor VI, L.P. (“Norvestor”) has decided to divest Phonero AS (“Phonero”), a leading mobile virtual network operator to Telia Company AB (“Telia”), valuing Phonero at NOK 2.3 billion on a cash and debt free basis.
Norvestor invested in Phonero in November 2015. During Norvestor’s ownership, the company has continued to grow its customer base, organically and through the acquisition of Mobitalk AS.
Phonero has built a strong brand and captured substantial market share in recent years, both in the private and public sectors of the business market. Telia and Phonero combined will have a market share in the Norwegian business market for mobile communication of approximately 27%.