Telenor Hungary

Telenor Hungary, the second largest mobile telecommunications provider in Hungary by both revenue and subscriber market share, is a pioneer in mobile broadband technology in Hungary and among the best 10 4G LTE networks worldwide. 
Telenor Hungary offers mobile services to both consumer as well as business customer segments, on both prepaid and contract bases. 
Telenor Hungary has a well-invested network and a strong asset base consisting of 3,848 mobile base sites.

PPF Group’s current share in Telenor Magyarország Zrt. is 75% (as of 31 October 2019).

In 2018, PPF Group agreed to purchase Telenor’s assets in Central and Eastern Europe. After obtaining the necessary regulatory approval, the transaction was settled at the end of July 2018. Following the closing of said transaction, PPF Group became the sole owner of Telenor’s assets in Hungary, Bulgaria, Montenegro, and Serbia. Telenor has been active in Central and Eastern Europe for 25 years. It entered the Hungarian market in 1994 as local operator Pannon.
In October 2019, PPF Group sold 25% of its Hungarian telco operations to Antenna Hungária through the sale of its stake in TMT Hungary B.V. holding company.

Country facts

population (Dec 2017)

9.8 million
ownership by PPF since 2018

Operational results

employees 980
mobile subscribers (thousands) 3,067
mobile ARPU 11.6 €/m

Telenor Magyarország Zrt.
2045 Törökbálint
Pannon út 1.

Country Manager
Jan Hanuš

Financial results

in EUR millions

2018 2017
Total assets 1 145 1 219
Revenue 517 497
EBITDA 179 157


34 35

*based on unaudited pro forma condensed consolidated financial information for 2017 and 2018