Source: Tanjug | Monday, 18.10.2021.| 15:45
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PPF Sells 30% Stake in CETIN Group to GIC

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Illustration (Photo: asharkyu/shutterstock.com)
PPF Group and GIC have agreed for GIC to buy a 30% stake in CETIN Group. PPF Group, as they announced, will retain the majority stake of 70% in its leading provider of telecommunications infrastructure services in Central-Eastern Europe.

PPF and GIC have agreed for the new minority owner in CETIN to be adequately represented in the company’s board of directors. The completion of the transaction is subject to the usual regulatory approvals.

The parties agreed not to disclose the financial details of this transaction.

The forming of CETIN Group began in 2020 with the adding of the infrastructure that PPF bought in 2018 from Telenor in Hungary, Bulgaria and Serbia.

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