Belgrade, 15 June 2018 – Telenor Group has entered into an agreement to sell 100% of the shares in Telenor Banka to PPF Group.
The acquisition of Telenor Banka by the PPF Group is subject to approval of the National Bank of Serbia, the Serbian Competition Authority and the Montenegrin Competition Agency, which is the most essential step in further process.
PPF Group is the largest private investment group in CEE, investing in various sectors, such as banking, consumer finance, telecommunications, real estate, and biotechnology.
Telenor Banka is a part of Telenor Group, a mobile operator that keeps more than 170 million customers connected to what matters most. In 2013, Telenor acquired 100% shares in KBC Banka in Serbia, aimed to offer state-of-the-art and innovative online financial services to the citizens of Serbia. Telenor launched Telenor Banka in September 2014 as the first mobile and online bank in Serbia. After almost 4 years of operations, Telenor Banka has more than 390,000 customers, and growing.
PPF Group operates in 22 countries across three continents. PPF Group invests into multiple market segments such as banking and financial services, telecommunications, biotechnology, insurance, real estate, mining and agriculture. PPF’s reach spans from Europe to Russia, the USA and across Asia. The PPF Group owns assets exceeding EUR 38 billion (as at 31. 12. 2017).