The FINANCIAL — The telecom company Nortel has been admitted to trading on Merkur Market (ticker code: NTEL-ME).
Since the launch in September 2019, Nortel has achieved steep growth in the SMB segment, not least by being a first mover in offering limitless data at a fixed price to companies.
The challenger in the business telecom duopoly in Norway are prepared for accelerated growth. ”Our growth since the launch 14 months ago proves that there was a need for a challenger in the SMB market and with the equity issue of NOK 75 million, we have the financial muscles to increase the level of ambition,” says Christian Pritchard, CEO and founder of Nortel.
Nortel has acquired 3,600 customers with a total of 13,900 plus SIM and targets 142,000 SIM in 2025, in addition to 25,000 Fixed Wireless Access (Fast Mobilt Bredbånd) contracts when 5G broadband opens a new market as an alternative to coax/xDSL.
“A flexible technology platform and scalable business model enables us to drive innovation and at the same time compete on price. Nortel is well-positioned for strong and profitable growth,” says Pritchard.