The transaction will make Telenor Bahnhof’s majority shareholder. Once the transaction, which is subject to regulatory approvals, has been completed, Telenor will make a public takeover offer to all Bahnhof shareholders at a price of SEK 62 per share. For our customers, the most important news is simple: Bahnhof will continue to be Bahnhof.
What has shaped Bahnhof—our culture, expertise and commitment to privacy and security—will remain part of the company under Telenor. Jon Karlung, CEO of Bahnhof, said:
“For more than thirty years, we have built Bahnhof around a simple idea: providing fast broadband and standing up for people’s rights online. We will continue to do so. The difference is that, together with Telenor, we will have considerably greater resources.”
Jens Nylander, Chairman of the Board of Bahnhof, said:
“Bahnhof’s Board welcomes the transaction and has allowed Telenor to conduct confirmatory due diligence. This was a prerequisite for the transaction and for a possible subsequent mandatory cash offer to all shareholders.”
The best of both worlds
Bahnhof is now a strong player in fibre broadband, data centres and secure digital infrastructure. Telenor is one of the largest telecoms operators in the Nordic region, with extensive infrastructure across the region.
Following the transaction, the two businesses will come together, combining complementary strengths. Bahnhof brings its focus on secure data centres, privacy and innovation. Telenor contributes Nordic reach, extensive fibre infrastructure and the resources to develop new communications services.
“I’m really looking forward to this. We’re taking what we already do well and combining it with Telenor’s strengths. That will put Bahnhof in a better position to develop new services and continue to drive technological progress,” says Jon Karlung.
A stronger Nordic region
Bahnhof has long championed personal privacy and security. In a security environment where digital infrastructure is becoming increasingly important, robust networks, secure data centres and long-term investment are essential.
Telenor is the only telecoms operator with a significant presence in all the Nordic countries. The transaction will bring together Telenor’s network infrastructure and mobile operations with Bahnhof’s experience in building secure communications services. This will create better conditions for developing new services, contributing to more resilient digital infrastructure in the Nordic region, and continuing to champion cybersecurity and personal privacy.
“Bahnhof has always gone its own way. We intend to keep doing that. But sometimes it helps to have a bigger engine under the bonnet. It gives Bahnhof more power to develop new services and continue to defend everyone’s right to a private digital life,” says Jon Karlung.
Transaction structure
Bahnhof’s founders and principal shareholders, Jon Karlung and Andreas Norman, and Öresund Investment have today entered into agreements with Telenor to sell all their shares in Bahnhof.
Bahnhof’s founders, Jon Karlung and Andreas Norman, own 50.8 per cent of the shares and 86 per cent of the votes in Bahnhof, directly and indirectly through K.N. Telecom AB. The price payable in the transaction is SEK 60 per share. Öresund Investment, Bahnhof’s second-largest shareholder, owns 6.7 per cent of the shares and 1.9 per cent of the votes. The price payable for its shares is SEK 62 per share. Based on the weighted average share price, Bahnhof is valued at SEK 6.1 billion on an enterprise value basis (100 per cent).
Once the transaction has been completed, Telenor will become the controlling shareholder in Bahnhof and intends to make a mandatory public offer to all shareholders at SEK 62 per share, in accordance with the Stock Market Self-Regulation Committee’s Takeover Rules for Certain Trading Platforms. The transaction is subject to customary regulatory approvals, which Telenor expects to obtain within four to eight months. Bahnhof’s Board intends to issue a statement in connection with any public takeover offer from Telenor.
In connection with the proposed transaction, Bahnhof’s Board has established an independent committee comprising Jens Nylander, Eric Hasselqvist, Anders Jensen and Anna Åhr. Bahnhof has also allowed Telenor to conduct confirmatory due diligence in connection with the proposed transaction. Jon Karlung, CEO and Board member of Bahnhof, and Andreas Norman, Board member of Bahnhof, have not participated and will not participate in handling or making decisions relating to the transaction or the due diligence process.
Press contact
Markus Eriksson, Head of Marketing and Communications, Bahnhof
markus.eriksson@bahnhof.net
072-055 00 11
The information in this press release is information that Bahnhof AB (publ) is required to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person named above, at 07:07 CEST on 8 July 2026.