PPF Group will not buy Bulgaria-based Nova Group
PPF Group announces that it will not acquire the 95% equity stake in Bulgaria-based media company Nova Broadcasting Group Jsc. from Modern Times Group (MTG), and the remaining 5% stake from Eastern European Media Holdings S.A. The reason for such decision lies with the fact that the transaction was not approved by Bulgarian antitrust regulator.
In Bulgaria, PPF Group will continue to focus on developing Telenor’s telecommunications assets, which it acquired as part of the acquisition of Telenor’s telecommunications assets in Central and Eastern Europe, specifically in Hungary, Bulgaria, Montenegro, and Serbia.