Telenor Serbia

Telenor Serbia offers mobile services and a minor share of fixed voice and non-voice services to both consumer and business customer segments, on prepaid as well as contract basis.
Telenor Serbia’s network has the widest coverage in Serbia, with the best network performance in the country, the best perception as measured by NPS and an asset base consisting of 2,126 mobile base sites.

PPF Group’s share in Telenor d.o.o. is 100%.

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.  Telenor extended its reach to  Serbia in 2006 by acquiring company Mobi63.

Country facts

population (Dec 2017)

7.0 million
ownership by PPF since 2018

Operational results

employees 1,318
mobile subscribers (thousands) 2,809
mobile ARPU 8.7 €/m

Telenor d.o.o.
Omladinskih brigada 90,
11070 Beograd

Country Manager
Mike Michel

Financial results
(Serbia+Montenegro combined)

in EUR millions

2018 2017
Total assets 1 089 1 049
Revenue 430 419
EBITDA 184 156


46 37

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

CETIN Serbia

CETIN d.o.o.
Omladinskih brigada 90,
11070 Beograd

Vladimir Skulić


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