PPF Completes Buy of Telenor's Assets in Bulgaria, Montenegro, Serbia, Hungary
The Czech Republic-based investment group PPF said on Tuesday it has completed the acquisition of Norwegian mobile operator Telenor's telecommunications assets in four countries of Central and Eastern Europe - Hungary, Bulgaria, Montenegro and Serbia."PPF Group has received all the necessary approvals from the relevant authorities and completed all other requisite processes," it said in a statement. As a result, PPF Group now holds full control over Telenor’s operations in Hungary, Bulgaria, Montenegro and Serbia and the technology service provider Telenor Common Operation, PPF added. The total purchase price of the assets was 2.8 billion euro ($3.3 million) on an enterprise value basis. PPF Group said it has financed the transaction through a syndicated loan.