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. Telenor extended its reach to Montenegro in 1996 by buying Mobi 063 and it moved into Serbia a decade later. 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.