Norway buys Telenor’s satellite business to expand space ambitions

TAMPA, Fla. — Norwegian state-run telco Telenor announced plans Nov. 16 to sell its satellite division to Space Norway, part of the country’s space agency, in a deal worth around $216 million.

The Norwegian government fully owns Space Norway and is seeking parliamentary permission for the capital needed to finance the transaction, which would help consolidate the country’s space interests.

“The acquisition will contribute to the establishment of a major Norwegian satellite operator, which, together with a growing Norwegian space industry, can strengthen Norway as a…