March 22, 2018
Telenor has entered into an agreement to sell its assets in Central and Eastern Europe (CEE) to PPF Group for €2.8 billion (NOK 27 billion) on an enterprise value basis.
The transaction includes Telenor’s wholly-owned mobile operations in Hungary, Bulgaria, Montenegro, and Serbia and the technology service provider Telenor Common Operation. The CEE operations contributed approximately NOK 11.8 billion or 9% of Telenor Group’s revenues and NOK 4.1 billion or 8% of EBITDA in 2017, and have more than 9 million customers and around 3,500 employees.
Latham & Watkins advised Telenor in the transaction with a corporate team led by London partner Robbie McLaren with associates Katie Peek, Jennifer Cadet, and Laura Connolly.