NBS has not received application for acquisition of ownership of Telenor banka

The National Bank of Serbia (NBS) announced today that it is the only competent institution to make a final decision on the application for the acquisition of ownership of Telenor banka and that it has not received a single application for prior consent.

The central bank makes this statement in reference to media writings concerning the purported acquisition of Telenor banka and news that the Competition Protection Commission gave approval to the PPF group to acquire Telenor banka, which is part of the Telenor group.

In the press release, the NBS underlines that since January, when it refused an application of a legal person submitted in 2017, which intended to acquire ownership in the bank on behalf and for the account of a natural person (RSC Investments B.V. Holandija on behalf and for the account of Elvin Vehip Guri), it has not received a single application for prior consent for the acquisition of ownership of Telenor banka, or the application of the PPF group.

The bank points out that only after it receives a due application for prior consent for the acquisition of ownership in a bank does the NBS begin to assess the application submitted, being the only competent institution to make a final decision on such application.

The Law on Banks, the NBS reminds, stipulates that, without prior consent of the NBS, no person may acquire direct or indirect ownership in a bank which provides such person with the possibility to exercise 5% or more voting rights in the bank.

Narodna banka Srbije Beograd

Mobi Banka ad Beograd

Komisija za zaštitu konkurencije Srbije

PPF Group N.V. Netherlands

TELENOR ASA

National Bank of Serbia

NBS

Telenor banka

Commission for Protection of Competition

PPF Group

Telenor Group

acquisition of Telenor banka