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Mar 23, 2018

Telenor to sell its central and eastern European operations to the Czech PPF Group for 2.8 billion EUR

Hungary is the telco firm’s main base in central and eastern Europe. Telenor’s central and eastern European operations contributed to eight percent of the company's revenues and nine percent of core operating earnings in 2017

Telenor is to sell off its central and eastern European operations to the Czech PPF Group for 2.8 billion EUR.

Hungary is the telco firm’s main base in central and eastern Europe. Telenor’s central and eastern European operations contributed to 8 percent of the company's revenues and nine percent of core operating earnings in 2017.

Reports state that the PPF Group transaction includes Telenorʼs wholly owned mobile operations in Hungary, Bulgaria, Montenegro and Serbia, and the technology service provider Telenor Common Operation.

The deal now requires necessary regulatory approval and is expected to be completed within the third quarter of 2018.   

"Telenor Hungary is showing a strong performance in the market and we keep pushing the boundaries to provide customer-centric and easy-to-use products," said Telenor Hungary CEO Alexandra Reich.

"We are convinced that we can continue our successful story in Hungary. PPF Group has a clear goal for their telecommunications portfolio, and the Telenor CEE operations are key to achieve this. I want to underline that this transaction will have no impact for our customers and local partners, and going forward the business will run as usual," she added.