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Feb 01, 2018

Telenor's central European arm set to be sold off

Telenor is to sell off its central and eastern European operations. Hungary is the company’s main base in the region, along with offices in Bulgaria, Montenegro and Serbia

Telenor is to sell off its central and eastern European operations, it has been revealed.

According to Reuters, the telco firm received an expression of interest ahead of a potential bid for its mobile phone operations in the region.

Hungary is the company’s main base in central and eastern Europe, along with offices in Bulgaria, Montenegro and Serbia.

"With a view of creating shareholder value, Telenor has engaged in a process to evaluate the interest received. Telenor expects to conduct these assessments in the first quarter of 2018," a statement read.

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.

According to reports, the company is going strong and 2017 earnings are estimated to be around US$16.2 billion.