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Telenor from Montenegro will go to 4iG

The change of ownership of Telenor Montenegro has reached its final stage. Following the due diligence, 4iG Plc.’s local subsidiary (4iG Montenegro) and PPF Telecom Group today signed a final agreement to purchase a 100 percent stake in Telenor doo Podgorica (Telenor Montenegro). The leading company in the Montenegrin mobile market, with 413,000 subscribers and 436 base stations, will strengthen its 4iG telecommunications portfolio. Depending on the outcome of the required competition proceedings, the transaction could be completed by the end of the year. company on the Budapest Stock Exchange. With sales of € 44 million in 2020, Telenor Montenegro is the market leader in the Montenegrin mobile segment. Headquartered in Podgorica, the company has 436 proprietary base stations, with its main revenues coming from residential and business subscribers (67%).

“Telenor Montenegro is a mobile operator with a stable growth background, the acquisition of which is an important step in the West. In the Balkans, the acquisition could open up further opportunities for us in the telecommunications and ICT markets in the region. ” – said Gellért Jászai, the company’s chairman and CEO, after signing the contract. “We support the company’s management and staff, and are committed to providing further high-quality service to retail and business customers,” stressed the President and CEO.

The parties did not disclose the value of the transaction. Following the Montenegrin competition procedure, the transaction is expected to close by the end of this year.

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Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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