The European Commission approved PPF Group’s acquisition of Telenor’s CEE portfolio. The €2.8bn deal includes mobile operations in Hungary, Montenegro, Serbia and Bulgaria as well as control of technology service provider Telenor Common Operation. Telenor’s CEE business encompass about 3,500 employees and more than 9 million customers. Telenor has been operating in the CEE region for 25 year. In 2006, it acquired Mobi 063 in Serbia, and in 2013, it acquired the mobile operator Globul in Bulgaria. PPF Group, owned by Czech businessman Petr Kellner, invests in banking, finance, real estate, mining and telecommunications. In February, the group acquired Nova Broadcasting Group in Bulgaria from Sweden’s Modern Times Group.
