January 4 (SeeNews) - Telenor Serbia plans to make investments worth 100 million euro ($114.1 million) in 2019, Belgrade-based media quoted CEO Mike Michel as saying on Friday.
The company will invest a total of 100 million euro in Serbia's economy this year through direct investments in telecommunications infrastructure, improvement of mobile Internet, development of digital technologies, payment of taxes and wages, as well as other benefits, news agency Beta quoted Michel as saying.
"The wishes of the users will be the driver of Telenor's investments. More than 50% of infrastructure investments will go into the development of the network, internet and service facilities, as well as innovation," Michel said.
In July, Czech Republic-based investment group PPF completed the acquisition of Norwegian mobile operator Telenor's telecommunications assets in Bulgaria, Hungary, Montenegro and Serbia for 2.8 billion euro on an enterprise value basis. PPF Group said at the time it has financed the transaction through a syndicated loan.
Serbia, with a population of around 7 million, has three operators active in the mobile segment - Telekom Srbija, Telenor Serbia and Vip Mobile.
($ = 0.876672 euro)