PPF Group, the Czech investment firm, bought Telenor’s assets in Hungary, Bulgaria, Montenegro, and Serbia for EUR 2.8 billion. This is a landmark transaction for the telecommunications sector in Central and Eastern Europe – the biggest since 2011, and it was completed on 31 July 2018.
Karanović & Nikolić, in cooperation with White & Case as lead international counsel, advised PPF Group in the transaction concerning operations in Serbia and Montenegro. The Karanović & Nikolić M&A team* was led by Senior Partner Rastko Petaković and Partner Miloš Jakovljević, with Associates Sava Drača and Sonja Guzina. Partner Bojan Vučković and Senior Associate Veljko Smiljanić assisted in obtaining the merger and regulatory approvals.
PPF Group is an international financial and investment group which operates in 22 countries and across 3 continents. The company invests into multiple market segments such as banking and financial services, telecommunications, biotechnology, insurance, real estate, and agriculture. The PPF Group owns assets exceeding EUR 38 billion.
*The members of the legal team mentioned in the article are senior partners or independent attorneys at law in cooperation with Karanović & Nikolić.