PPF acquires Telenor Bank in Serbia

PPF Group has finalized its acquisition of Telenor Bank in Serbia. The Czech investment group bought the bank from Norway’s Telenor Group. The bank specializes in innovative online financial services and was the first mobile and online bank in Serbia. It currently has more than 400,000 customers. PPF Group acquired Telenor Group’s telecommunications assets in the CEE region in 2018 for €2.8bn. PPF operates in 22 countries. It mostly invests in the banking, telecommunications, biotechnology, insurance, real estate, mining and agriculture sectors.