The partners established a new holding company operating as a joint venture, owned 75% by the PPF Group and 25% by Antenna Hungária.

The statement said PPF continues to manage the business operation of Telenor Hungary and the company’s management will continue to operate in an unchanged form.

Antenna Hungária as strategic partner will delegate one person each into the board of directors and supervisory board of the new holding company as well as an observer each into the board of directors and supervisory board of Telenor Hungary and Telenor Real Estate.

The PPF Group acquired in July 2018 Telenor’s telecommunication companies in Hungary, Bulgaria, Montenegro and Serbia.

MTI Photo