4iG Plc. Has entered into a preliminary agreement with a subsidiary of PPF Telecom Group to purchase a 100 percent stake in the leading Montenegrin mobile operator, Telenor doo, Podgorica (Telenor Montenegro). The non-binding agreement on the details of the transaction was also announced by the parties on the Budapest Stock Exchange.
SMALL COUNTRY, LARGE SERVICE PROVIDER
With 338,000 subscribers and sales of € 43 million in 2020, Telenor Montenegro is the absolute market leader in the Montenegrin mobile segment. The main revenue of the company, headquartered in Podgorica, is provided by residential and business subscribers (67%). The Montenegrin subsidiary Telenor was acquired in 2018 by the PPF Group from the Norwegian parent company – in a package with the Hungarian, Bulgarian and Serbian subsidiaries.
Operators, IT-sec faces, welcome! (x)HWSW free! meetup series, this time on July 7 with operators and on 13 with IT security topics.
Operators, IT-sec faces, welcome! (x) HWSW free! meetup series, this time on July 7 with operators and on 13 with IT security topics.
The company has 150 self-owned base stations that cover all major roads, most of the tunnels, as well as Montenegro’s beaches and winter tourist center. As a result, Telenor Montenegro reaches 98% of its population with its 4G-based mobile services, which provides a stable growth background for the company. .
Under the preliminary agreement, 4iG will begin a screening of the target company, which may make a final offer to acquire Telenor doo, Podgorica at the end of September. The parties have agreed that the transaction will be completed by 30 November 2021 at the latest, subject to the consent of the Montenegrin authorities.
The PPF Group stated in its response to our paper that this potential transaction will not affect PPF Telecom Group’s strategy to conduct business in other markets where it is present and seek new investment opportunities in the Central and Eastern European region.
SERIES OF ACQUISITIONS
Less than a month ago, 4iG announced that it had entered into a preliminary agreement with Space-Communications Ltd (SpaceCom), an Israeli satellite operator, to purchase a 51% stake in the company. This was the company’s first major international acquisition.
Prior to that, on March 29, 4iG announced that it had entered into a preliminary agreement with the Romanian RCS & RDS consortium to acquire Digi Távközlési Kft. The latter transaction is expected to close by 4iG in early fall.
Source: HWSW Informatikai Hírmagazin by www.hwsw.hu.
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