Extraordinary Announcement of 4iG Plc.
On the signing of the acquisition of 100% of shares of Telenor d.o.o. Podgorica
4iG PLC (“4iG”) hereby informs the Capital and Financial Markets that following the due diligence, 4iG Montenegro, the Montenegrin subsidiary of 4iG, and PPF TMT Bidco 1 B.V., subsidiary of PPF Telecom Group B.V., entered into a final sale and purchase agreement on the purchase of 100% stake in Telenor d.o.o. Podgorica (“Telenor Montenegro”). Telenor Montenegro, a leader in the Montenegrin mobile market with 413,000 subscribers in August 2021 and 436 base stations, will strengthen 4iG’s telecommunications portfolio. The transaction may be completed by the end of the year, depending on the outcome of the required competition proceedings.
4iG is expanding its telecommunications portfolio in South-Eastern Europe after concluding the final sale and purchase agreement with PPF TMT Bidco 1 B.V. for the acquisition of Telenor Montenegro. With sales of EUR 44 million in 2020, Telenor Montenegro is the revenue market leader in the Montenegrin mobile segment. With the headquarter based in Podgorica, with its main service revenues coming from residential and business subscribers (67%).
The parties did not disclose the value of the transaction. The transaction is expected to close later this year, following competition proceedings in Montenegro.
Budapest, 27th October, 2021