October 31, 2019 / 2:49 PM / 14 days ago

PPF sells stake in Telenor Hungary units to Antenna Hungaria

PRAGUE (Reuters) - Czech investment group PPF has sold a 25% stake in its Hungarian units of telecommunications group Telenor CEE to Hungary’s state-owned broadcast operator Antenna Hungaria, PPF said on Thursday.

“This transaction will strengthen our market position in this competitive and mature telecommunications market while at the same time affirming PPF’s commitment as a long-term, mid-sized telecommunications owner in (central and eastern Europe),” PPF’s executive for telecommunication assets, Ladislav Bartonicek, said in a statement.

PPF, owned by the richest Czech businessman Petr Kellner, acquired Telenor’s telecommunications assets in Hungary, Bulgaria, Montenegro, and Serbia in July 2018.

Reporting by Jason Hovet

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