Sofia, July 2, 2020 – PPF Telecom Group today announced the completion of separation of retail and infrastructure at its Telenor-branded business units in Serbia, Hungary and Bulgaria, and the creation of three new organizations which will operate within CETIN Group.
Within the group project, Telenor Bulgaria spun off its telecommunication infrastructure assets into a newly established independent entity, CETIN Bulgaria. The two companies will have different priorities and will have different business models and management focus.
Telenor Bulgaria will have even bigger space opened to focus on the consumer and retail propositions and services development, while CETIN and its infra and technology greatest specialists shall be able to further improve the telco & IT infrastructure deployment, utilization of assets, operations and maintenance.
The restructuring will not affect Telenor relationship with its customers in any way. Telenor customers will continue to enjoy high-quality mobile products & services, developed by Telenor and offered over the award-winning network, now operated by CETIN. There will be no changes in mobile service contracts or in contract terms and conditions. As before, customers will continue to communicate exclusively with Telenor for customer care.
“CETIN Bulgaria’s aim is to be at the forefront of the latest business models in Bulgaria, the region and across the globe. Our team of experts will continue to focus on cutting edge network and IT infrastructure, bringing further value creation and addressing the increasing demand and expectations towards communication networks”, said CETIN Bulgaria Chief Executive Officer Vladimir Radojičić.
Telenor is a leading telecommunication services provider with some 3 million active users in Bulgaria. As of August 1, 2018, Telenor Bulgaria, along with Telenor Hungary and Telenor Serbia & Montenegro are part of PPF Telecom Group.
PPF Telecom Group is a leading provider of telecommunication services in the CEE region, active in six markets (Bulgaria, Czech Republic, Hungary, Montenegro, Serbia and Slovakia) providing mobile, fixed-line, data and internet television services. It has 17.2 million mobile customers, 12,000 employees and EUR 1.4bn EBITDA (FY2019).
PPF Group invests in multiple market segments such as financial services, telecommunications, biotechnology, real estate and mechanical engineering. The reach of PPF Group spans from Europe to the North America and across Asia. PPF Group owns assets reaching EUR 48.6 billion (as at 31 December 2019).