Gernandt & Danielsson advises Verdane on its agreement with Telenor to establish a joint ownership in Telenor Connexion

Gernandt & Danielsson have advised Verdane on its agreement with Telenor to establish a joint ownership in Telenor Connexion. The transaction, which was completed on 10 September 2026, values Telenor Connexion at SEK 7.5 billion. The partnership is intended to realise value from Telenor Connexion's strong market position, while giving Telenor Connexion access to long-term growth capital through an efficient ownership structure.

In 2025, Telenor Connexion generated revenues of approximately SEK 1.3 billion and an EBITDA of approximately SEK 415 million. Over the past 25 years, Telenor Connexion has built a strong global position in managed IoT services and connectivity solutions for large, global customers. The market is expected to grow at double-digit rates towards 2030. Today, Telenor Connexion is a top-ten player globally outside China, with 31 million IoT SIM cards in operation and deliveries to more than 200 countries.

Gernandt & Danielsson advises Verdane together with Advokatfirmaet Wiersholm. Gernandt & Danielsson’s team is led by partner Corinne Ekman, senior associate Simona Stenborg and associate Elias Vahman, primarily supported by partners Mats Hugoson (Telecom), Andreas Holmqvist (Employment), Mikael Bolling (Financing) and Peter Forsberg (FDI), senior associates Katarina Odelberg Folke (Corporate), Arijan Kan (Compliance), Robin Skoglund Rovén (Corporate), Astrid Strandqvist (Data Protection/Regulatory), Sara Öhrlund (Real Estate/Corporate) Martin Zeitlin (Intellectual Property) and Amanda Alexandersson (Financing), as well as associates Sofie Hallén (FDI), Viktor Rytter (Corporate), Agnes Ulfwinger (Employment) and Josefin Lindstedt (Corporate).