Telenor buys majority stake in Finland’s DNA for $1.7 billion

Norwegian mobile operator Telenor will enter the Finnish telecoms market after agreeing to buy a controlling stake in the country’s third largest mobile firm DNA.

The deal completes Telenor’s presence in the Nordic region, alongside operations in neighbouring Sweden and Denmark as well as its native Norway.

The company has spent much of the last three decades focused on growing its presence in emerging markets, building operations from scratch rather than taking over existing companies, but has recently withdrawn from central Europe and is gradually selling its stake in Veon, formerly known as Vimpelcom.