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 December 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 968
mobile subscribers (thousands) 3,030
mobile ARPU 12.3 €/m

Telenor Magyarország Zrt.
2045 Törökbálint
Pannon út 1.

Country Manager
Jan Hanuš

Financial results

in EUR millions

2019 2018
Total assets 1 176 1 237
Revenue 527 517
EBITDA 208 179


62 34

* based on audited financial accounts for 2019 and unaudited pro forma condensed consolidated financial information for 2018

CETIN Hungary

CETIN Magyarország Zrt.
2045 Törökbálint
Pannon út 1.

Tamás Ötvös


CETIN Hungary was established by separation of telecommunication infrastructure from Telenor Hungary. The company provides mobile network services for Telenor Hungary.