Modern Times Group (MTG) has terminated an agreement to sell its stake in Bulgaria’s Nova Broadcasting Group to the Czech-owned PPF Group.
The Czech Republic’s PPF Group acquired Telenor’s assets in four CEE countries as it believes in the potential of these markets and aims to develop its telco operations in the region.
Jason King has appointed CEO of PPF Group-owned Telenor Bulgaria, effective September 1.
Telenor has completed the sale of its assets in Central and Eastern Europe to PPF Group for €2.8 billion on an enterprise basis.
PPF Group is now attempting to become the sole owner of the Czech incumbent, in which it acquired a 65.9% stake in November 2013 for €2,467 million.
The European Commission has given the green light to the acquisition of Telefónica’s assets in the Czech Republic by the PPF Group.
The Czech PPF Group is reported to be interested in acquiring a minority (49%) stake in Slovak Telekom.
Telefónica has agreed to sell a 65.9% stake in its Czech subsidiary to PPF Group NV for €2,467 million in cash.