PPF investment group purchases Telenor bank

Telenor bank is a commercial bank based in Belgrade, founded in 2014 upon the acquisition of Serbia’s KBC Banka by Telenor Serbia, a Norwegian multinational telecommunications operator.

The statement added that the purchase was conditioned by both cooperative and regulatory consents of Serbia’s national bank, the Commission for Protection of Competitiveness and Montenegro’s Agency for Protection of Competitiveness.

PPF is the largest investment group in Central-Eastern Europe which places its capital into different sectors such as banking, consumers’ financial services, telecommunications, real estates and biotechnology, the statement said.