Czech PPF buys up Telenor mobile assets in four countries

The Czech-based investment group PPF has announced a deal with the Norwegian telecoms group Telenor to buy up their activities in four Central European countries.

PPF, owned by the Czech Republic’s richest man, Petr Kellner, will pay around 2.8 billion euros, around 71 billion crowns, for the mobile phone assets in Hungary, Bulgaria, Montenegro, and Serbia.

The deals still need regulatory clearance and are expected to be finalised by June 2018. PPF’s main telecoms assets is the 02 operator in the Czech Republic.