Norwegian telecommunications company Telenor plans to acquire Bulgarian mobile operator Globul for a total amount of 717 million euros on a cash and debt-free basis.

Telenor said that with its well-performing operations in the region, it will be able to create value in the Bulgarian market.

The company also said its entrance into the Bulgarian market enhances the potential for cross-border co-operation and increased efficiency that its customers, businesses and the Telenor Group as a whole will benefit from. It added that there is a potential in the expansion of mobile data and internet-based services in the market.

On March 12, 2013, Telenor acquired U.S. technology company Liquid Barcodes and strengthened its focus on coupons and value codes.