The Czech-based investment group PPF will acquire 100 percent in Serbia’s Telenor banka, which is part of the Telenor Group. The deal is part of an acquisition of Telenor’s telecommunication assets in Central and Eastern Europe, namely in Hungary, Bulgaria, Montenegro and Serbia. PPF, owned by the Czech Republic’s richest man, announced the news on Friday.
The deal still needs to be approved by the National Bank of Serbia and the relevant antimonopoly authorities. With over 390,000 clients, Telenor ranks among the second ten largest banks on the Serbian market.
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