State buying into Telenor Hungary this year?

17 Jul 2019

The Hungarian government could purchase a 25% stake in mobile operator Telenor Hungary by the end of the year via national TV broadcast transmission and telecoms infrastructure company Antenna Hungaria, according to a report from Nepszava citing two ‘independent sources’. Telenor Hungary is currently owned by Czech-backed, Netherlands-headquartered private investment fund PPF which completed a regional takeover of Telenor Group’s assets in July 2018. Antenna Hungaria has been state-owned since the government bought the firm from France’s TDF in mid-2014.

Nepszava’s sources claim that negotiations between the government and Telenor Hungary’s management are already underway. Forbes estimated the company’s worth at HUF350 billion (USD1.2 billion) last year.

Hungary, Antenna Hungaria, PPF Group, Telenor Hungary (incl. CETIN)