PPF Group Sells 25% Stake In Telenor CEE To Antenna HungariaWilliam Malcolm
PPF Group sold a 25% stake of Telenor CEE’s Hungarian holdings to Antenna Hungária. Thus enabling Telenor Hungry to merge and leverage both companies core competencies.
The deal created a joint holding venture. PPF Group holds a 75 percent stake. While, Antenna Hungaria has the remaining 25 percent.
“This transaction will strengthen our market position in this….market while….affirming PPF’s commitment as a long-term….telecommunications owner in (central and eastern Europe),” PPF executive Ladislav Bartonicek, said.
PPF will continue to manage Telenor Hungary. Antenna Hungária will occupy one seat on the Board of Directors and on the Supervisory Board. Furthermore, Antenna Hungária will have seats on the Boards of Telenor Hungary and Real Estate.
Antenna Hungária is the dominant player in the Hungarian telecommunications market. The company provides telecom services, nationwide terrestrial television and radio broadcasting.
PPF Group bought Telenor’s operations in Hungary, Bulgaria, Montenegro, and Serbia in July 2018.
PPF Arena 1 holds PPF’s telecommunications investments. Which include CETIN, O2 Czech Republic, and Telenor CEE.
PPF invests in a variety of industries. From financial services and telecommunications, to biotechnology, real estate, and engineering.
PPF operates in Europe, Asia, and North America. At the end of 2018, the Group held assets of over EUR 45 billion.