PPF finalized the acquisition of Telenor companies in the region | Economy

The Czech investment group PPF completes the acquisition of the telecommunication companies of the Norwegian mobile operator Telenor in Hungary, Bulgaria, Montenegro and Serbia [19659003] Hungary, Bulgaria, Montenegro and Serbia

The PPF Group has received all the necessary approvals from the concerned institutions and has completed all the remaining procedures, and now has full control over Telenor's activities in the aforementioned countries . The total price for the companies involved was 2.8 billion euros, and the transaction was financed by a loan from a group of creditors.

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the largest takeover in the telecommunications sector in Central and Eastern Europe since 2011. [19659005] Telenor is entered the Hungarian market in 1994 as a local operator – Pannon. In 1996 he expanded to Montenegro and in 2006 to the Serbia market by buying the operator Mobi 063. The Norwegian telecom operator entered the Bulgarian market in 2013 by acquiring Globul.

By the end of 2017, Telenor provided services to more than nine million users in four countries in Central and Eastern Europe and employed nearly 3,500 people in these markets.