Transaction Overview
Telenor ASA announced that it has agreed to acquire a controlling stake in Swedish broadband provider Bahnhof AB. The deal comprises a purchase of 50.8 % of Bahnhof from its founders at SEK 60 per share and an additional 6.7 % from another shareholder at SEK 62 per share, giving Telenor a combined 57.5 % ownership.
Mandatory Offer
Because the acquisition exceeds the 30 % threshold under Swedish takeover rules, Telenor must launch a mandatory public cash offer for the remaining Bahnhof shares at SEK 62 per share. The offer price represents approximately a 22 % premium to Bahnhof’s closing price on the day before the announcement.
Share Price Reaction
Following the announcement, Bahnhof’s shares rose about 19 % to SEK 60.60, the highest level since late September 2025, and outperformed the relatively unchanged OMX Stockholm All‑Share Cap GI index.
Strategic Rationale
Telenor stated that the acquisition will strengthen its position in the Nordic broadband market by adding Bahnhof’s fibre and internet services to its regional operations, contributing to greater scale in fixed broadband and digital infrastructure.
Regulatory and Timing
The transaction is subject to customary regulatory approvals and is expected to close within the coming months.