Telenor Group signed a contract for the sale of its business in the region of Central and Eastern Europe with a PPF group worth 2.8 billion euros.
The board of directors of Telenor Group intends to apply at the Annual General Meeting of Shareholders (AGM) for approval of a special dividend distribution of 4.40 NOK per share. The transaction includes mobile operations in Hungary, Bulgaria, Montenegro and Serbia and Telenor Common Operation (TnCo) technical service providers, all of which are fully owned by Telenor Group. Telenor operations in the region of central and eastern Europe have a share of NOK 11.8 billion, or 9 percent in total revenues of Telenor Group and NOK 4.1 billion, or about 8 percent of EBITDA in 2017, with more than 9 million users and 3,500 employees. The Board of Directors of Telenor Group will ask the Shareholders Assembly on 2 May 2018 to pay a normal dividend of NOK 4.40 per share after successful completion of the transaction.