PPF Group has completed its acquisition of mobile operator Telenor’s telecommunications assets in Central and Eastern Europe, specifically in Hungary, Bulgaria, Montenegro, and Serbia. PPF Group has received all the necessary approvals from the relevant authorities and completed all other requisite processes. As a result, PPF Group now holds full control over Telenor’s operations in the aforementioned countries. The total purchase price of the assets was €2.8bn. PPF Group invests into multiple market segments such as banking and financial services, telecommunications, biotechnology, insurance, real estate, and agriculture. Telenor is a leading provider of telecommunications and mobile services in Scandinavia, CEE and Asia. “Telenor Group’s strategy is based on growth, efficiency and simplification. With the sale of our CEE assets, we take an important step in simplifying and focusing Telenor’s portfolio on the regions where we see the strongest potential for value creation. Following this transaction, Telenor’s footprint will consist of integrated fixed and mobile operations in Scandinavia, and strong mobile positions in Asia. Telenor is confident that PPF Group’s experience in both the region and sector will make it a good owner of the CEE assets,” Sigve Brekke, Chief Executive Officer of Telenor Group.