Oslo-based Telenor currently has an acceptance rate of 95% from DNA’s minority shareholders. It acquired 54 percent of the shares in DNA from Finda and PHP on 21 August 2019.
“Telenor Group sees great potential for DNA to continue to grow and develop. This includes strengthening its customer offerings and position in the business segment, as well as leveraging on Telenor’s global scale and strong position in the Nordic region,” said Telenor Group CFO, Jørgen C. Arentz Rostrup, “This marks another step in executing on our strategic agenda, focusing on modernisation and value creation within core telecom in the Nordics and Asia.”
Yesterday, Telenor’s holding company in Finland yesterday announced a two-week extension of the MTO offer period, providing the remaining DNA shareholders with a possibility to accept the tender offer. The new offer period will run until 10 October 2019, unless further extended.
With its expansion to Finland, Telenor is establishing a new Nordic Cluster, and is searching for a new head. Morten Karlsen Sørby, EVP and Acting Head of the current Scandinavia Cluster, plans to step down from his role after 26 years at Telenor and 15 years as part of Telenor’s Group Executive Management.