March 21 (SeeNews) - Norwegian telecommunications group Telenor said on Wednesday it has agreed to sell its Central and Eastern European assets to Czech-based investment group PPF for 2.8 billion euro ($3.43 billion) on an enterprise value basis.
The transaction includes Telenor's wholly-owned mobile operations in Hungary, Bulgaria, Montenegro and Serbia and the technology service provider Telenor Common Operation, it said in a statement.
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The CEE operations contributed approximately 11.8 billion Norwegian crowns ($1.52 billion/1.24 billion euro), or 9% of Telenor Group's revenues and 4.1 billion Norwegian crowns, or 8% of EBITDA in 2017. They have more than 9 million customers and around 3,500 employees.
($=0.8144)