Karanović & Nikolić, together with White & Case as lead international counsel, advised PPF Group, the Czech investment firm, on the EUR 2.8 billion acquisition of Telenor's assets in Central and Eastern Europe. The transaction includes the Norwegian telecoms firm's mobile operations in Bulgaria, Hungary, Montenegro and Serbia, as well as the technology service provider Telenor Common Operation. The transaction requires necessary regulatory approval and is expected to be completed within Q3 2018.

Karanović & Nikolić advised PPF Group in the transaction concerning operations in Serbia and Montenegro. Our Corporate team was led by senior partner Rastko Petaković and partner Miloš Jakovljević, with associates Sava Drača and Sonja Guzina, while the Finance team was led by senior partner Darko Jovanović.

"This is a landmark transaction that will certainly have great impact on the CEE telecommunications sector. We are very pleased that, together with our colleagues from White & Case, we advised on a deal that will reshape the regional telecoms milieu", said Rastko Petaković, Managing Partner at Karanović & Nikolić.

PPF Group is the largest private investment group in CEE with approximately EUR 35 billion of assets under its control. PPF Group invests in various sectors, including banking, consumer finance, real estate, mining and telecommunications. Previous transaction experience includes the acquisition of O2 Czech Republic from Telefonica in 2013 and Nova Broadcasting Group in Bulgaria in 2018.