PPF sells 25% of Telenor Hungary to Antenna Hungaria

1 Nov 2019

PPF Group announced yesterday (31 October 2019) that it has sold a 25% stake in cellco Telenor Hungary to Antenna Hungaria alongside a 25% share of Telenor Real Estate (Hungary). Czech-backed, Netherlands-based PPF said that the transaction ‘will allow Telenor Hungary to consolidate and leverage the core competencies’ of Antenna Hungaria and Telenor Real Estate ‘and trigger mutual strategic synergies.’ Ladislav Bartonicek of PPF added: ‘This transaction will strengthen our market position in this competitive and mature telecommunications market while at the same time affirming PPF’s commitment as a long-term, mid-sized telecommunications owner [in Central and Eastern Europe – CEE].’ Zsolt Sarecz, CEO of Antenna Hungaria, said: ‘The exploitation of the mutual strategic synergies allows both Antenna Hungaria and Telenor to provide even better and more complex media and telecommunication services in the Hungarian B2C market and to our business clients.’

PPF will continue as 75% shareholder of Telenor Hungary and will preserve its control over the business, with the existing management team remaining in place. Antenna Hungaria, as a strategic partner, will have one member on the Management and Supervisory Boards of a new local holding company.

PPF Group acquired Norwegian group Telenor’s telecoms assets in Hungary, Bulgaria, Montenegro and Serbia in July 2018. PPF Arena 1 consolidates PPF’s investments in the sector (O2 Czech Republic/CETIN and Telenor CEE).

Antenna Hungaria provides telecoms/broadcasting infrastructure-based services alongside multimedia and IoT solutions.

Hungary, Antenna Hungaria, PPF Group, Telenor Hungary