After running mobile operations in the CEE region for 25 years, Telenor sold its wholly-owned mobile operations in Bulgaria, Hungary, Montenegro and Serbia, as well as the Hungary-based technology service provider Telenor Common Operation Zrt.
Thanks to its CEE footprint, Schoenherr provided comprehensive transactional legal advice in all CEE jurisdictions where Telenor's companies were based. The transaction was completed on 31 July 2018 after receiving the necessary regulatory approvals.
Telenor's CEE operations have more than 9 million customers and around 3,500 employees. The sale was in line with Telenor's strategy of simplifying its business and focusing on portfolios in Asia and Scandinavia. By acquiring Telenor's CEE assets, the PPF Group is expanding its telecommunications portfolio to four additional countries, thus strengthening its market position.
Telenor is a Norwegian multinational telecommunications company and one of the largest mobile operators in Scandinavia and Asia. The PPF Group is the largest private investment group in CEE with approximately EUR 35bln of assets under its control.
The Schoenherr CEE team acted as Telenor's counsel in four jurisdictions and consisted of:
Serbia/Montenegro: Luka Lopičić (partner, corporate/m&a); Bojan Rajic (attorney at law, corporate/m&a); Petar Mišković (associate, corporate/m&a);
Bulgaria: Alexandra Doytchinova (partner, corporate/m&a); Katerina Kaloyanova (attorney at law, corporate/m&a); Stela Pavlova (associate, corporate/m&a);
Hungary: Zita Albert (local partner, corporate/m&a); Marton Gervai (attorney at law, corporate/m&a).