The company Yettel and its sister company Cetin get a new majority owner – a company from the United Arab Emirates, but Mobi Bank remains 100% owned by the company within the Czech PPF group.
The National Bank of Serbia has confirmed that it has not yet received a single request for approval for the acquisition of shares in Mobi Bank.
It is recalled that the Czech PPF Group operates in five areas: telecommunications, media, banking and financial services, e-commerce and retail, while the fifth area includes diverse activities – from real estate to biotechnology and transportation.
The company that operates in the field of telecommunications is the PPF Telekom Group, which operates three companies that further have their own daughter companies. These are Yettel, with companies of the same name in Serbia, Bulgaria and Hungary, then O2 with companies in the Czech Republic and Slovakia, as well as Cetin Group, with companies of the same name in Serbia, Hungary, Bulgaria and the Czech Republic.
The disclosed sale and purchase between Emirates Telecommunication Group and PPF Group refers to the acquisition of a 50 percent stake plus one share in PPF Telekom Group’s assets in Bulgaria, Hungary, Serbia and Slovakia. Companies in the Czech Republic remain exempt from the change of ownership, and the same, as stated in the announcement of the PPF Group, applies to Mobi Bank in Serbia.
It was explained that Mobi Bank Belgrade is owned by PPF Financial Holdings, which, according to data from the group’s financial reports, manages a total of 12 banks – from the Czech Republic and Slovakia, through Great Britain and Serbia to Vietnam, India, China… and was not subject to purchase and sale ownership stake by an Emirati company.
PPF Telekom’s existing assets in the Czech Republic, including Czech operator O2 CZ and telecommunications infrastructure provider Cetin Czech, will be transferred outside the PPF Telekom Group and will not be part of the transaction. PPF will retain its 100 percent indirect stake in O2 CZ and its current indirect stake in Cetin Czech, the statement said.
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