PPF Telecom Group has entered into a final agreement to sell a 100% stake in mobile network operator (MNO) Telenor Montenegro to Hungarian technology company 4iG for an undisclosed price. The transaction, which is subject to customary regulatory clearances, is expected to be completed before the end of 2021.
Explaining the group’s decision to sell, Marek Slacik, Executive Director TMT CEE at PPF Telecom Group commented: ‘Our business strategy focuses on markets offering significant growth potential and solid weighting within our portfolio. Therefore, we have decided to sell Telenor Montenegro to a party that has a long-term interest to develop the mobile operator further.’
Gellert Jaszai, President and CEO of 4iG stated: ‘Telenor Montenegro is a mobile operator with a stable growth background, the acquisition of which is an important step through the implementation of our strategy in the Western Balkans. The acquisition may open up additional opportunities for us in the region in the telecommunications and ICT markets.’
Telenor Montenegro operates an LTE network covering 98% of the population and claimed 475,580 mobile subscriptions and a leading 37% share of the market at 30 September 2021. Private investment company PPF Group acquired Telenor’s assets in Montenegro, Hungary, Bulgaria and Serbia in 2018 in a deal valued at USD3.3 billion.