4iG to acquire Telenor Montenegro
July 9, 2021
4iG has announced its second international transaction, which will allow the Company to continue building its telecommunications portfolio. 4iG has entered into a non-binding Term Sheet with the subsidiary of PPF Telecom Group to acquire 100 per cent stake in Telenor Podgorica (‘Telenor Montenegro’).
Telenor Montenegro has 338,000 subscribers, 150 base stations and 4G coverage reaching more than 98 per cent of the population. The successful completion of the transaction, following the completion of the due diligence, is subject to the approval of the Montenegrin authorities.
“The acquisition of Telenor Montenegro is in line with 4iG’s regional expansion strategy, and the Target’s solid background and market position, as well as its strong revenue generating capacity, can bring high added value to our Group,” said Gellért Jászai, CEO–Chairman of 4iG, following the announcement. “We see significant growth potential in the Western Balkans region, and we expect that over the next five years, the region’s economic growth could be boosted significantly by the enlargement of the European Union. We therefore intend to further increase our presence in the region, in addition to the acquisition we have just announced. To this end, we are continuously exploring investment opportunities in the telecoms and IT sectors.”
The parties have agreed to close the transaction by November 30th 2021 at the latest, subject to the approval of the Montenegrin authorities.