4iG signs non-binding Term Sheet to acquire Telenor Montenegro
Image by Natalya Volchenkova / Shutterstock.com.
Listed IT company 4iG on Friday said it signed a preliminary, non-binding Term Sheet with PPF Telecom Group in order to acquire 100% of Telenor Montenegro, the country's leading mobile service provider, according to a report by state news wire MTI.
Telenor Montenegro has 338,000 subscribers, 150 base stations and reaches 98% of the country's population with its 4G-based mobile services. The acquisition is aimed to be completed by the end of November 2021, subject to due diligence of Telenor Montenegro and the approval of the local competition authorities, 4iG said.
Telenor Montenegro had sales revenue of EUR 43 million in 2020.
It was acquired in 2018 along with several regional mobile service providers by the Czech-owned investment company PPF Group.
The potential acquisition is in line with 4iG's regional expansion strategy, which 4iG intends to further intensify in the Western Balkans region in the coming period, the company said.
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