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Ovum comments: Telenor to buy Globul

(PresseBox) (London, ) Telenor ASA (TEL), the Nordic region’s largest telecommunications operator, has agreed to buy Hellenic Telecommunications Organization's (OTE) Bulgarian mobile unit.

Jeremy Green, Principal Analyst in Ovum’s Telco Strategy Practice has the following comments:

“Telenor’s acquisition of Globul, Bulgaria’s second-largest mobile operator, represents a continuation of the group’s policy of seizing opportunities without too much concern for geographical or strategic fit. There’s no obvious logic to the acquisition, other than the fact that Bulgaria sits next to Serbia, another Telenor territory. The Telenor operator in the latter is delivering a decent margin compared to Telenor’s overall footprint, but most of the group’s growth is coming from the Indian subcontinent.

“Bulgaria is a largely saturated market (141% penetration) with little prospects for revenue growth. It is possible that Telenor will be able to shape and improve Globul’s market share and position, but there is no guarantee of this, and these sort of gains are hard to sustain in most markets. The largest competitor, Mtel, is also owned by a European operator group (Mobilkom Austria), so growth at its expense will not be easy.”

Ovum

Jointly awarded IIAR Global Analyst of the Year 2012, Ovum provides clients with independent and objective analysis that enables them to make better business and technology decisions. Its research draws upon over 400,000 interviews each year with business and technology, telecoms and sourcing decision-makers, giving Ovum and its clients unparalleled insight, not only into business requirements but also the technology that organizations must support. Ovum is an Informa business.