Latham Advises Telenor on the €2.8bn Sale of its Central and Eastern European Assets

Firm advises leading mobile operator on key strategic transaction.

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.

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