16 Apr 2018, Stefan Stoyanov, Global Head of M&A Database
Czech PPF Group expands telco foothold in CEE
PPF Group plans to fund the deal with a EUR 3bn acquisition financing from a consortium of lenders including BNP Paribas, Credit Agricole, Societe Generale, Erste Group, HSBC and UniCredit. The transaction will enable Telenor to shift focus on operations in markets where it sees the strongest potential for value creation, namely Scandinavia and Asia, said Sigve Brekke, CEO of Telenor Group.
Ladislav Bartonicek, PPF Group’s head of telecom assets, said that the deal will provide PPF the opportunity to fulfil its long-term goal of becoming a mid-sized European telco operator.
PPF Group is the largest private investment group in CEE with interests in banking, real estate, mining and telecoms. It has EUR 35bn in assets under management and owns the O2 telecom operators in the Czech Republic and Slovakia, which it bought from Spain’s Telefonica in 2013. Earlier in 2018, PPF also agreed to acquire Bulgarian media group Nova Broadcasting. PPF is controlled by Petr Kellner, the richest man in the Czech Republic.
Find more about this deal on EMIS DealWatch Original source: EMIS - DealWatch