Czech Investment Group Completes Acquisition of Telenor's CEE Assets in a €2.8 billion Deal

10 months ago
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Czech Investment Group Completes Acquisition of Telenor's CEE Assets in a €2.8 billion Deal Image Credit: digitalista/Bigstockphoto.com

Czech Investment Group PPF Group announced that it has completed its acquisition of mobile operator Telenor’s telecommunications assets in Central and Eastern Europe, specifically in Hungary, Bulgaria, Montenegro, and Serbia, in a EUR 2.8 billion deal.

PPF Group has received approvals from the European Commission on Monday for the acquisition. As a result, PPF Group now holds full control over Telenor’s operations in the aforementioned countries.

The acquisition is the biggest in the telecom sector in Central and Eastern Europe since 2011. PPF Group invests into multiple market segments such as banking and financial services, telecommunications, biotechnology, insurance, real estate, and agriculture. The Company's reach spans from Europe to Russia, the USA and across Asia.

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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