The transaction includes Telenor's wholly-owned mobile operations in Hungary, Bulgaria, Montenegro and Serbia and the technology service provider Telenor Common Operation. The CEE operations contributed approximately NOK 11.8 billion or 9% of Telenor Group's revenues and NOK 4.1 billion or 8% of EBITDA in 2017, and have more than 9 million customers and around 3,500 employees.
Telenor Group's strategy is based on growth, efficiency and simplification. With the sale of our CEE assets, we take an important step in simplifying and focusing Telenor's portfolio on the regions where we see the strongest potential for value creation. Following this transaction, Telenor's footprint will consist of integrated fixed and mobile operations in Scandinavia, and strong mobile positions in Asia. Telenor is confident that PPF Group's experience in both the region and sector will make it a good owner of the CEE assets, says Sigve Brekke, Chief Executive Officer of Telenor Group.
The Board of Directors will ask the upcoming AGM on 2 May 2018 for power of attorney to pay out a special dividend of NOK 4.40 per share, contingent upon the successful closing of the transaction. Including the proposed ordinary dividend of NOK 8.10 per share for 2017, the total proposed pay-out to shareholders in 2018 will be approximately NOK 19 billion. As previously communicated, the company also plans to ask the AGM for a new buyback mandate to secure flexibility for additional shareholder remuneration going forward.
Our proposed use of proceeds balances our aim to deliver attractive shareholder remuneration, while preserving strategic flexibility. The special dividend will come on top of an all-time-high ordinary dividend and the recently executed buyback programme. We are currently focusing on developing our existing assets and driving digital transformation. In the coming years, we believe there will be value accretive opportunities within our core business areas and geographies,'' says J rgen C. Arentz Rostrup, Chief Financial Officer of Telenor Group. We are pleased with today's transaction, not least because of PPF's commitment to a professional transaction process.
PPF Group is the largest private investment group in CEE with approximately EUR 35 billion of assets under its control. PPF Group invests in various sectors, including banking, consumer finance, real estate, mining and telecommunications. Previous transaction experience includes the acquisition of O2 Czech Republic from Telefonica in 2013 and Nova Broadcasting Group in Bulgaria in 2018.
With this purchase, PPF Group is expanding its telecommunications portfolio to four more countries, and fulfilling our long-held goal to become a mid-sized European operator and to use our experience to strengthen our market position, said Ladislav Barton ek, PPF Group's shareholder responsible for telecommunications assets within PPF.
The agreed transaction price corresponds to an EV/EBITDA multiple of 6.4 based on 2017 EBITDA.
The parties have agreed on a deferred purchase price, where EUR 400 million of the proceeds will be paid in four instalments over four years.
The transaction requires necessary regulatory approval. The transaction is expected to be completed within Q3 2018. As of first quarter 2018, the CEE operations will be treated as an asset held for sale and discontinued operations in Telenor Group's financial reporting. The transaction is estimated to result in an accounting gain after tax of around 3 NOK billion to be booked after the completion of the transaction.
Telenor has had mobile operations in the CEE region for 25 years. Telenor entered the Hungarian market in 1994 through the acquisition of Pannon and later expanded its presence in the region through launch of mobile services in Montenegro in 1996 and the acquisition of Mobi 063 in Serbia in 2006. Finally, Telenor acquired Globul in Bulgaria in 2013.
About Telenor
Telenor Group connects its 178 million customers to what matters most. Connecting the world has been Telenor's domain for more than 160 years and we currently operate in 12 markets across Scandinavia, Central Eastern Europe and Asia. Our 30,000 employees are committed to responsible business conduct and driven by the ambition of empowering societies. For more information, please visit https://www.telenor.com/
Media Contacts: Atle Lessum
47 41 50 56 45 | atle.lessum@telenor.com
Cathrine Stang Lund
47 95 87 26 99 | cathrine-stang.lund@telenor.com
Meera Bhatia
47 46 84 49 59 | meera.bhatia@telenor.com
Investor Relations Contacts: Marianne Moe
47 91 61 76 31 | marianne.moe@telenor.com
Helge ien
47 91 31 92 42 | helge.oien@telenor.com
Most recent headlines
09/11/2025
Dalet today announced a transformative leap forward for media operations: Agentic Artificial Intelligence (AI) that unifies the Dalet ecosystem under one natura...
21/10/2025
As Amazon's Prime Video prepares to launch its coverage of NBA basketball under a major new deal, Grup Mediapro has announced that it is working with the st...
21/10/2025
ATLANTA Good news for consumers using an Atlanta DTH receiver to watch ATSC 3.0: with a new software update, they will be able to blanket their homes with Wi-Fi...
21/10/2025
While recent news has been heavily focused on Hispanic migration into the U.S., The 2025 Hispanic Market Report from Claritas highlights the fact that this gr...
21/10/2025
MAIDENHEAD, UK RWS has hired Michael Wayne as its head of media and entertainment in Los Angeles where he will lead the company's media localization busines...
21/10/2025
Imagine Communications and Rohde & Schwarz today announced a definitive agreement under which Imagine will acquire Pixel Power Limited, a wholly owned subsidiar...
21/10/2025
Atlanta DTH (ADTH) today announced a major update that will expand the functionality of its NEXTGEN TV receiver by enabling gateway capabilities allowing viewer...
21/10/2025
Heartland Video Systems, Inc. (HVS), a premier video systems integration, consulting, and expert ATSC 3.0 implementation firm announces that it has partnered wi...
21/10/2025
QuickLink, the leading provider of award-winning video production and remote guest integration solutions, today announced the appointment of Austin Hinton as it...
21/10/2025
nternet connectivity startup Miri Technologies Inc. will use this week's NAB Show New York as the launch pad for its latest ground-breaking innovation, the ...
20/10/2025
Inside TAMS: How Time-Addressable Media Stores could redefine sports workflows By Paul Markham
Friday, October 17, 2025 - 08:57
Print This Story
A penalty...
20/10/2025
Transformational production: Inside TVN's remote production push for the DFL...
20/10/2025
How NBC Sports Transitioned Stamford Facility to One Format: 1080p HDRMulti-year plan harmonizes workflows, simplifies operationsBy Ken Kerschbaumer, Editorial ...
20/10/2025
NBA on NBC' Studio Production Team Is Ready for Tip-Off With Coast-to-Coast...
20/10/2025
Under pressure: TVN CEO Markus Osthaus considers the German sports broadcasting ...
20/10/2025
(L-R) Maria Dizzia, Carmen Emmi, and Russell Tovey attend the Plainclothes pre...
20/10/2025
In March, we launched Concerts Near You to help listeners find concerts from their favorite artists. Since then, more than 3 million people have used it to disc...
20/10/2025
Em diversas cidades do Brasil, um movimento tem se fortalecido para celebrar o poder, a beleza e a profundidade da criatividade negra. O Dia AMPLIFIKA, agora em...
20/10/2025
In cities across Brazil, a movement is growing that celebrates the power, beauty, and depth of Black creativity. AMPLIFIKA Day, now in its fifth edition, return...
20/10/2025
Airborne Early Warning and Control aircraft rendering...
20/10/2025
DENVER and MUNICH Imagine Communications today announced its plans to acquire Pixel Power Ltd., a wholly owned subsidiary of Rohde & Schwarz. Financial terms of...
20/10/2025
LOS ANGELES G Morgan has joined Globecast, a provider of broadcast, media and entertainment managed services, as executive vice president of sales, Globecast Am...
20/10/2025
PLYMOUTH, Wisc. Heartland Video Systems and Zixi have partnered to enable broadcast-quality live video delivery over any IP network....
20/10/2025
A. R. Rahman on Facing Fear and Finding the Divine In an interview with Berklee President Jim Lucchese, the Oscar-winning composer reflects on how courage and...
20/10/2025
Monday 20 October 2025
To view this content, please enable our use of cookies. ...
20/10/2025
Rohde & Schwarz transfers Pixel Power to Imagine Communications Companies work collaboratively to ensure continuity and ongoing support for existing customers...
20/10/2025
RT 's Prime Time is set to host the final Presidential Election Debate this Tuesday night, October 21, providing an opportunity to hear directly from Irelan...
20/10/2025
NVIDIA and Google Cloud are expanding access to accelerated computing to transform the full spectrum of enterprise workloads, from visual computing to agentic a...
19/10/2025
Back to All News
Sins of Kujo' Comes to Life in New Live-Action Series Set for Spring 2026
Entertainment
19 October 2025
GlobalJapan
Link copied to cl...
18/10/2025
New England Sports Network (NESN) has chosen Harmonic, working with Astound Business Solutions, as its enterprise technology partner to transform primary distri...
18/10/2025
NEW ORLEANS, La. In the run-up to the start of the NBA season, WVUE-TV and Gray Local Media have announced a deal with DirecTV that will greatly expand access t...
18/10/2025
Berklee Celebrates 40 Years of the Fall Together Concert Faculty composers Bob Pilkington and Greg Hopkins are among the featured artists for this year's ...
17/10/2025
NEP Group Receives New Equity Investment From 26North Partners LP, Co-InvestorsCarlyle remains the largest shareholder as the company prepares for the futureBy ...
17/10/2025
Apple Lands Five-Year Deal for F1 Distribution in the U.S.Besides airing on Apple TV, the sport will be amplified on other Apple servicesBy Ken Kerschbaumer, Ed...
17/10/2025
SVG Sit-Down: Marshall Electronics' Bernie Keach on the Future of PTZ Camera...
17/10/2025
L2 Productions' REMI Facility in Austin Can Produce Content From AnywhereMusic festivals, sports events are produced via flypacks and remote control roomsBy...
17/10/2025
By Lucy Spicer
One of the most exciting things about the Sundance Film Festival...
17/10/2025
(L-R) Christopher Meyer, Addison Timlin, Cooper Raiff, Lili Reinhart, Alyah Chan...
17/10/2025
M sica e arte se uniram em uma noite especial na semana passada na ZIV Gallery, ...
17/10/2025
Music and art came together for one special night last week at ZIV Gallery, an i...
17/10/2025
Spotify and FC Barcelona are extending our partnership through 2030, continuing a collaboration that's redefining how fans, players, and artists connect. Th...
17/10/2025
MURRIETA, Calif. The Sports Fishing Championship (SFC) has deployed DigitalGlue's creative.space storage platform to streamline video production by centrali...
17/10/2025
BELLEVUE, Wash. Football continued to cement its reputation as a bulwark of TV advertising in Q3 2025 with new data from iSpot that showed both the NFL and coll...
17/10/2025
The Sports Fishing Championship (SFC), the premier competitive saltwater fishing series, has transformed its production workflow by adopting creative.space, the...
17/10/2025
QuickLink, a leading provider of award-winning multi-camera video productions and remote contribution solutions, announces the release of StudioPro Version 4, ...
17/10/2025
Although the annual Grammy Awards celebration is best known for recognizing achievements in the recording industry, the show often proves a visual spectacle as ...
17/10/2025
OpenDrives, Inc., a leading provider of software-defined data storage and data services, has promoted Alex Dunfey to Chief Technology Officer (CTO) from his for...
17/10/2025
The University of Arizona (UofA) has significantly upgraded its broadcast communication infrastructure with the integration of Riedel Communications' advanc...
17/10/2025
Harmonic (NASDAQ: HLIT) today announced that New England Sports Network (NESN), owned by Fenway Sports Group and Delaware North, has selected Harmonic as its en...
The transaction includes Telenor's wholly-owned mobile operations in Hungary, Bulgaria, Montenegro and Serbia and the technology service provider Telenor Common Operation. The CEE operations contributed approximately NOK 11.8 billion or 9% of Telenor Group's revenues and NOK 4.1 billion or 8% of EBITDA in 2017, and have more than 9 million customers and around 3,500 employees.
