The Hungarian technology company 4iG has signed a preliminary non-binding agreement with the Czech company PPF Telecom Group on the purchase of 100 percent of shares in Telenor Montenegro, which is the largest provider of mobile services in Montenegro. This was stated by the Hungarian agency MTI. The financial terms of the agreement were not disclosed.
The goal of the companies is to close the acquisition by the end of November. It will all depend on the completion of due diligence in Telenor Montenegro and the approval of the agreement by the local antitrust authority, 4iG added.
Telenor Montenegro has 338,000 subscribers. Last year, the company’s revenues amounted to EUR 43 million (CZK 1.1 billion). PPF acquired the company in 2018, along with several other regional operators.