Telenor, also known as Telenor ASA, is a state-owned and publicly owned company headquartered in Norway. Founded in 1855, the company operates with an estimated 24,000 employees and reported $7.4B in revenue as of 2025. Functioning as a national telecommunications operator, Telenor specializes in telecoms.
On September 11, Telenor completed its 50/50 joint venture transaction with investment firm Verdane for its IoT connectivity business, Telenor Connexion. The deal provided Telenor with approximately SEK 3.8 billion in upfront proceeds, a vendor note of roughly SEK 0.8 billion, and access to up to SEK 2 billion in growth funding from each partner to support an accelerated expansion strategy. Previously on September 11, Telenor subsidiary KNL secured a framework agreement enabling the Danish Ministry of Defence Acquisition and Logistics Organisation (DALO) to procure KNL’s secure high-frequency (HF) communication systems for the Danish Armed Forces. Denmark became the third Nordic country to join KNL’s NORDEFCO agreement through this deal. Earlier, on September 10, Telenor reset the interest rate for its TEL01 bond (NO0012935313) to 5.62 percent for the period from September 14 to December 14, 2026, reflecting an adjustment to its borrowing costs. Also on September 10, Telenor extended its main partnership with the Norwegian Alpine Ski Association until 2030, an agreement covering the period before and after the 2029 World Championships in Narvik, which supports athlete development, recruitment, and participation.
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