The transaction includes Telenorʼs wholly-owned mobile operations in Hungary, Bulgaria, Montenegro and Serbia and the technology service provider Telenor Common Operation.

The EUR 2.8 billion acquisition was announced in March. PPF Group is financing the deal from a syndicated loan.

PPF Group is a private investment group in CEE with approximately EUR 38 bln of assets under its control. It invests in various sectors, including banking, consumer finance, real estate and telecommunications.