Telenor initiates share buyback programme
Pursuant to the authorization granted by at the Annual General Meeting (AGM) on 19 May 2026, Telenor Group announces the initiation of first year portion of the previously announced NOK 15 billion three-year share buyback programme. The repurchases will be made to optimise the company’s capital structure and will in the first year be limited to NOK 6 billion, subject to a maximum of 54 million shares.
Up to 24.9 million Telenor ASA shares, for a maximum amount of NOK 2.76 billion, will be repurchased in the market. The remaining portion of the programme, comprising up to 29.1 million shares for a maximum amount of NOK 3.24 billion, will be redeemed from the Norwegian State, represented by the Ministry of Trade, Industry and Fisheries, on a pro rata basis. As a result, the State’s ownership interest in Telenor will remain unchanged at 53.97%.
On 20 May 2026, Telenor entered into a non-discretionary agreement with a third party for the repurchase of shares in the market. The third party will administer the programme and make trading decisions independently of, and uninfluenced by, Telenor. The buyback mandate will commence on 1 June 2026 and will end no later than 16 February 2027.
In 2027, Telenor will seek AGM approval to cancel the shares repurchased in the market, as well as pro rata shares owned by the Norwegian State. Compensation for the State’s shares, and the subsequent redemption of those shares, is expected to take place after the 2027 AGM.
The transactions will be carried out in accordance with applicable safe harbour conditions and the relevant regulatory framework, including: the Norwegian Securities Trading Act of 2007; Commission Delegated Regulation (EU) 2016/1052; and the Norwegian Financial Supervisory Authority’s Guidelines for buy-back programmes dated March 2025.
This information is made public by Telenor pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.