Texas Pacific Group, the US private equity firm, has bought Telenor Media, the directories arm of Norwegian telecoms company Telenor, for Nkr5.8bn (€722m).

TPG fought off competition from Eniro, the Swedish directories group that was also bidding for Telenor Media, to secure the purchase. However, there was speculation ahead of the deal's completion that TPG would win out on the deal, as Eniro was unlikely to make a cash bid.