BELGRADE (Serbia), January 20 (SeeNews) – Telenor Serbia has made investments worth 210 million euro ($233 million) since it was acquired by Czech Republic-based investment group PPF in July 2018, CEO Mike Michel said.
Telenor Serbia invests between 30 million euro and 50 million euro a year in the development of infrastructure that can support the accelerated growth of mobile internet usage, Michel said in an e-mailed statement on Friday.
In 2019, Telenor Serbia recorded growth in the postpaid segment, and launched its first 5G base station, the company said.
"As far as the dialogue on the commercial introduction of 5G is concerned, our position is that we should not rush until the ecosystem is fully ready for its implementation. Commercial use could possibly begin in 2021 or 2022," Michel noted.
In July 2018, PPF completed the acquisition of Norwegian mobile operator Telenor's telecommunications assets in Bulgaria, Hungary, Montenegro and Serbia for 2.8 billion euro on an enterprise value basis. PPF Group said at the time it has financed the transaction through a syndicated loan.
($ = 0.902057 euro)