In a press release Telenor and Telephonica say the agreement is designed to meet their customers' need to communicate across national borders through mobile solutions.
It means that Telenor will support Telephonica's customers in Norway, Denmark and Sweden, while Telephonica will support Telenor's customers in its markets, particularly in Latin America.
Telefónica is one of the world’s largest telecommunications companies by market cap. Its activities are centred mainly on the fixed and mobile telephony businesses, while its broadband business is the key growth driver underpinning both. It operates in 25 countries and its customer base exceeds 277.8 million globally. Telefónica’s growth strategy is focused on the markets in which it has a strong foothold: Spain, Europe and Latin America.