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PPF Telecom Group


CETIN is a leading wholesale provider of telecommunications infrastructure services for fixed and mobile networks in Central and Southeastern Europe. By investing in advanced technologies and cutting-edge services, it is driving digital transformation in the four countries where it operates.

CETIN was established in the Czech Republic in 2015, when the infrastructure arm of O2 was successfully spun off into a separate company. In 2020, infrastructure was separated from the commercial activities of Telenor (now Yettel) in Hungary, Bulgaria, and Serbia in the same manner, and the regional CETIN Group was established. In October 2021, PPF Group and GIC, an international investment and infrastructure fund based in Singapore, struck an agreement that saw GIC acquire a 30% stake in CETIN Group. 

CETIN Group’s vast networks and infrastructure require highly skilled technical supervision to guarantee the reliability and stability of its services. They comprise high-end voice and data services, including TV broadcasting services, IT services, and cyberservices, to customers in the Czech Republic, Hungary, Bulgar-ia, and Serbia as well as other international wholesale customers.



CETIN in the Czech Republic

CETIN’s mission in the Czech Republic is to build, operate and develop a reliable, secure and fast telecommunications infrastructure. This mission is an essential part of digitalisation and support for the Czech economy’s competitiveness. 

CETIN owns and runs the largest electronic communications network in the Czech Republic and is a wholesale telecommunications services provider. The company offers its services on equal terms to all telecommunications operators and internet access providers that supply end customers through CETIN infrastructure. 

In addition to providing mobile and fixed network infrastructure for households and businesses (network access services, xDSL and fibre-optic connectivity, IPTV, and voice services), CETIN offers data services for corporate networks and data centre leasing. CETIN also offers international voice services for domestic providers and more than 200 telecommunications operators worldwide. 

As the operator of the largest communication infrastructure in the Czech Republic, CETIN invests billions of Czech crowns annually in development. In 2023, the company continued to build FTTH fibre-optic connections, which accelerated the average speed available in the network to 289 Mbps. 

Last year, CETIN continued to roll out 5G mobile technology across the Czech Republic. The complete replacement of technologies used in the mobile access network raised the network’s overall capacity and quality of services. By the end of 2023, 5G connectivity was available to 87% of the population in Czech Republic. CETIN has deployed Ericsson technologies to build its fifth-generation network and infrastructure, leveraging the high cybersecurity standards guaranteed by these solutions.

CETIN in Hungary

In 2023, CETIN continued to modernise its network and has upgraded more than 80% of its mobile infrastructure in Hungary. It also fitted more than 24% of its upgraded transmitters with the latest high-capacity 5G (C-band) technology. Parallel to this, 3G technology was phased out. Using more efficient technologies, CETIN delivered outstanding seamless broadband network performance to meet the significant growth in data demand.

The company’s strategy prioritises customer experience by providing high-quality network infrastructure services to Yettel, its key customer, and all other mobile operators in Hungary. CETIN Hungary also successfully developed and delivered new third-party services, such as distributed antenna systems (DAS) with multioperator capability for industrial, commercial, hospitality and residential use, SD-WAN, and enterprise WIFI services. 

CETIN in Bulgaria

In 2023, CETIN Bulgaria became the first company on the Bulgarian market to sign a power purchase agreement (PPA) for the supply of electricity from renewable sources. This PPA between CETIN Bulgaria, Yettel Bulgaria, and Electrohold Trade is the first major step in the company’s decarbonisation programme, which is part of PPF Group’s Sustainability Strategy.  

In 2023, the company helped Yettel Bulgaria to add a sixth consecutive UMLAUT Best in Test certificate to its portfolio, ranking this CETIN-managed network among the world’s top networks for the second year in a row. 

CETIN Bulgaria continued to develop its 5G network in order to offer the best possible services to Yettel’s end customers. In 2023, after more than a decade’s worth of activity, the company successfully activated the 700 MHz and 800 MHz frequency layers, improving network access in remote and sparsely populated areas. This project is also part of the EU’s Digital Decade programme, which aims to provide network coverage to every inhabited place in the EU. 

CETIN in Serbia

Recognised as the trailblazer behind Serbia’s first certified green network in Serbia, CETIN Serbia consistently delivers top-tier network quality, as confirmed when UMLAUT named its network Best in Test in Serbia for the fifth consecutive year.  

In order to meet the rising demand for services, CETIN Serbia also initiated a new greenfield investment for the construction of a new data centre.

In 2023, CETIN Serbia continued to invest in upgrading its access and transport network. Working with its new access network partner, Ericsson, CETIN’s network will be 5G-ready in 2025 and transport network capacity will be able to handle the growing data traffic from both IPTV and mobile data customers. 

Consolidated Financials

2022 2023
PPF Group share (%) 70* 70*
Net profit (EUR millions)   224 185
Assets (EUR millions)   3,733 4,181
Equity (EUR millions)   1,016 1,045
Source: Annual Report CETIN GROUP 2021
* Since March 2022, 30% owned by Roanoke Investment Pte Ltd, a company incorporated in Singapore and an affiliate of GIC Private Limited

CETIN Group in Numbers

  2022 2023
Base stations 12,900 13,700
Daily mobile traffic 5 petabytes 7.3 petabytes
Optical cables 78,000 km 89,000 km
Presence 4 countries 4 countries
Employees 2,983 3,134

“Our state-of-the-art telecommunications infrastructure solutions provide the backbone for the digitalisation of the world around us.”

Juraj Šedivý

Chairman of the Board of Directors

Consolidated Financials

CETIN Group in Numbers

Juraj Šedivý


CETIN Czech Republic

Českomoravská 2510/19
190 00 Praha 9 - Libeň
Czech Republic

CETIN Bulgaria

Business Park Sofia, building 6
1766 Sofia

CETIN Serbia

Omladinskih brigada 90
11070 Belgrade

CETIN Hungary

Zártkörűen Működő Részvénytársaság
2045 Törökbálint, Pannon út 1