Both parties have decided not to disclose the price of the transaction, which is subject to customary merger clearance approval by regulatory authority in Montenegro. The completion of the deal is expected before the end of 2021.
“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,” said Marek Sláčík, Executive Director TMT CEE, PPF Telecom Group.
“One of the key competitive advantages of Telenor Montenegro is the team, which has managed to keep mobile revenue market share leadership and operate a mobile network awarded an independent benchmark Best in Test in Montenegro. After the transaction is completed, we expect this team to continue running the business under the new owner,” added.
PPF Group acquired Telenor’s telecommunications assets in Bulgaria, Hungary, Montenegro, and Serbia in July 2018. The acquisition led to the formation of PPF Telecom Group within the PPF Group structure. In 2020, the market in Montenegro represented 1.1% of PPF Telecom Group's EBITDA.
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