At the end of 2018, mobile operator Telenor had over 9 million customers across the four CEE countries and employed almost 3,600 people.
Telenor has been active in Central and Eastern Europe for 25 years. It entered the Hungarian market in 1994 as local operator Pannon. In 1996, Telenor entered Montenegrian market by establishing a new company Promonte GSM. Decade later Telenor bought serbian company Mobi063 and extended its business to serbian market. In 2013, Telenor entered the Bulgarian market by acquiring Globul.
In 2018, PPF Group agreed to purchase Telenor’s assets in Central and Eastern Europe. After obtaining the necessary regulatory approval, the transaction was settled at the end of July 2018. Following the closing of said transaction, PPF Group became the sole owner of Telenor’s assets in Hungary, Bulgaria, Montenegro, and Serbia. The transaction was the largest of its kind in the region since 2011.