PPF Group has agreed to buy a 25% stake in Yettel Hungary and a 20% stake in infrastructure company CETIN Hungary from Hungarian state-owned Corvinus International Investment.
The announcement was made by the Economic Development Ministry, according to reports, and the sale prices for each transaction were not disclosed. Corvinus also owns a 29.5% stake in Yettel competitor Vodafone Hungary, which it will keep. It is also reported that PPF Group subsidiary PPF Telecom Group holds 75% of Yettel Hungary.
PPF Group agreed to sell a 50% and one share interest in its Central and Eastern European telecoms division (excluding the Czech Republic) to UAE-based e& in a deal expected to close in or around Q1 2024.
This transaction will provide e& with a majority stake in PPF’s Bulgaria, Serbia, and Slovakia divisions.
