O2 Slovakia

Yettel Hungary 

Yettel Bulgaria

Yettel Serbia

Slovakia

Hungary

Bulgaria

Serbia

e&amp; PPF Telecom Group operates in retail markets under its own Yettel brand in Hungary, Bulgaria, and Serbia, and under O2 brand in Slovakia.

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National operators

Retail operators

In Slovakia, where O2 has been active since 2007, the company had 2.3 million mobile customers at the end of 2023, winning the customers and the Operator of the Year award every year with a simple and transparent product portfolio.
Country Manager: Igor T&oacute;th

O2 is presently the third-biggest and fastest-growing mobile operator in the Slovak telecoms market.

Country facts

Operational results

Financial results

Yettel Hungary

Yettel Hungary offers mobile services to both consumer as well as business customer segments, on both prepaid and contract bases.&nbsp;
e&amp; PPF Telecom Telecom Group&rsquo;s share in Yettel Magyarorsz&aacute;g Zrt. is 75%. As of March 2024, PPF Group held 25% stake in Yettel Hungary through TMT Hungary Holdco B.V., a company outside the perimeter of e&amp; PPF Telecom Group B.V.

In 2018, the Group agreed to purchase Yettel&rsquo;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, the Group became the sole owner of Yettel&rsquo;s assets in Hungary, Bulgaria, Montenegro, and Serbia. Yettel has been active in Central and Eastern Europe for 25 years. It entered the Hungarian market in 1994 as local operator Pannon.
 Country Manager: Igor Přerovsk&yacute;

Yettel 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.&nbsp;

Yettek BG

In Bulgaria, Yettel connects over 3 million users with people, devices, and businesses. With a network of more than 180 stores, Yettel ensures convenient access across the country, while its award-winning mobile network reaches over 99% of the population. Yettel&rsquo;s network has also been recognized with seven Best in Test certifications by the independent benchmarking organization umlaut, setting a standard for excellence in coverage and reliability.
As the first and only telecom in Bulgaria to be certified as a Top Employer, Yettel demonstrates its commitment to high-quality employer practices and policies, ensuring a supportive environment for employees and outstanding service for customers.
e&amp; PPF Telecom Group&rsquo;s share in Yettel Bulgaria EAD&nbsp;is 100%.
In 2018, the Group agreed to purchase Yettel&rsquo;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, the Group became the sole owner of Yettel&rsquo;s assets in Hungary, Bulgaria, Montenegro, and Serbia. Telenor has been active in Central and Eastern Europe for 25 years. In 2013, Yettel entered the Bulgarian market by acquiring Globul.
Country Manager: Jason King

Yettel Bulgaria is the largest mobile telecommunications provider in Bulgaria by revenue and second largest by subscriber market share with more than 3.2 million active users.

Yettel Serbia&rsquo;s network has the widest coverage in Serbia, with the best network performance in the country and the best perception as measured by NPS.
e&amp; PPF Telecom Group&rsquo;s share in Yettel d.o.o. is 100%.
In 2018, the Group agreed to purchase Yettel&rsquo;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, the Group became the sole owner of Yettel&rsquo;s assets in Hungary, Bulgaria, Montenegro, and Serbia. Yettel has been active in Central and Eastern Europe for 25 years. &nbsp;Yettel extended its reach to&nbsp; Serbia in 2006 by acquiring company Mobi63.
Country Manager: Mike Michel

Yettel 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.

CETIN Networks Slovakia

CETIN Hungary

CETIN Bulgaria

CETIN Serbia

CETIN International N.V.

<h2>General info</h2>
CETIN mission is to be a leader in providing telecommunication infrastructure services across the CEE region. CETIN companies operate in Slovakia, Hungary, Bulgaria, and Serbia. Their anchor customers are telecommunications operators from e&amp; PPF Telecom Group, operating under O2 and Yettel brands.&nbsp;

<h2>Key strengths</h2>
<ul>
 <li>Leading open access telecommunication infrastructure platform in the CEE region</li>
 <li>CETIN companies are well positioned to benefit from a structural increase in digitalisation and data demand</li>
 <li>Committed and growing cash flows underpinned by mobile service agreements with high quality customers</li>
 <li>Significant up-selling and growth opportunities beyond the mobile service agreements</li>
 <li>Conservative financial profile with strong margins and high revenue visibility</li>
 <li>Experienced management team supported by a committed shareholder.</li>
</ul>

CETIN companies are wholesale providers of fixed and mobile telecommunications infrastructure to all telecommunications operators on equal and transparent footing.&nbsp;

PPF Group was the first to execute a voluntary separation of infrastructure from an integrated operator. The 2015 spinoff of CETIN Czechia was followed by a similar divestiture in Hungary, Bulgaria, and Serbia in 2020. These entities were consolidated under CETIN Group from since 2021. CETIN Slovakia was spun off in 2022, and isn't consolidated in CETIN Group at the moment. CETIN businesses provide their services to any telecommunications operators on a non-discriminatory basis. Being focused on infrastructure, CETIN companies are able to deploy optimal end-to-end solution for every requirement, rationalise long-term infrastructure planning, and utilise procurement scope and scale synergies.

Pioneers in structural separation

CETIN International non-audited, pro-forma key figures

“Our state-of-the-art telecommunications infrastructure solutions provide the backbone for the digitalisation of the world around us.”

CETIN infrastructure

CETIN 5G

Kontakt

The company provides mobile network services mainly for O2 Slovakia
CEO: Juraj Kod&yacute;dek

CETIN Networks in Slovakia was established by separation of telecommunication infrastructure from O2 Slovakia in June 2022.

The company provides mobile network services mainly for&nbsp;Telenor Hungary.
CEO: Judit K&uuml;bler-Andr&aacute;si

CETIN Hungary was established by separation of telecommunication infrastructure from Telenor Hungary (rebranded to Yettel in March 2022) in July 2020.
As of March 2024, PPF Group held 25% stake in CETIN Hungary through TMT Hungary Holdco B.V., a company outside the perimeter of PPF Telecom Group B.V.

The company provides mobile network services for&nbsp;Telenor Bulgaria.
CEO: Petar Mudrinić

CETIN Bulgaria was established by separation of telecommunication infrastructure from Telenor Bulgaria (rebranded to Yettel in March 2022) in July 2020.

The company provides mobile network services for Telenor Serbia.
CEO: Vladimir Radojičić

CETIN Serbia was established by separation of telecommunication infrastructure from Telenor Serbia (rebranded to Yettel in March 2022) in July 2020.

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PPF Group is an international investment group founded in the Czech 
Republic in 1991. It has grown to manage operations in 25 countries around the world.

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We’re developing a portfolio of businesses in 4 countries in CEE