MICROCAPITAL BRIEF: Telenor, Societe Generale to Purchase Serbian Unit of KBC Banka

Telenor Group, a telecommunications company based in Norway, and Societe Generale, a France-based financial institution, have agreed to purchase KBC Banka, the Serbian unit of KBC Group, a Belgium-based financial institution, for an undisclosed price. Telenor reportedly will be acquiring the banking license while Societe Generale will acquire KBC Banka’s  branch network. KBC Group put its Serbian unit up for sale to comply with a 2009 restructuring deal whereby the European Commission, the legislative body of the EU, provided KBC Group with EUR 7 billion (USD 9.21 billion) in aid.

As of 2013, Telenor Group provides mobile services in 12 countries in Europe and Asia and serves approximately 148 million subscribers. Its joint ventures include microinsurance and microcredit providers in countries including Bangladesh and Pakistan. For the year 2011, Telenor Group reported total assets of NOK 166 billion (USD 29 billion). As of year-end 2012, Societe Generale has operations in 85 countries and reported 1.65 trillion in total assets.

By Brian LeBlanc, Research Associate

About Telenor Group

Founded in 1855, Telenor Group is a telecommunications company based in Norway. As of 2013, Telenor Group provides mobile services in 12 countries and serves approximately 148 million subscribers.  For the year 2011, Telenor Group reported total assets of NOK 166 billion (USD 29 billion).

About Societe Generale

Established in 1864, Societe Generale is a French financial institution specializing in retail banking, corporate and investment banking and investment management and services. As of year-end 2012, Societe Generale has operations in 85 countries and reported USD 1.65 trillion in total assets.

Sources and Additional Information:

KBC Banka press release, http://www.kbcbanka.rs/documents/Press%20release,%20KBC%20Banka.pdf

MicroCapital article, May 7, 2013, “MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Opes $112m in Credit Lines to Societe Generale Expressbank, Sogelease Bulgaria for On-Lending, Leasing to Small, Medium-Sized Enterprises,” https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-opens-112m-in-credit-lines-to-societe-generale-expressbank-sogelease-bulgaria-for-on-lending-leasing-to-small-medium-siz/

MicroCapital article, March 14, 2013, “MICROCAPITAL BRIEF: Norway’s Telenor Group Expresses Concern over Claim of Bangladeshi Government to Grameen Business,” https://www.microcapital.org/microcapital-brief-norways-telenor-group-expresses-concern-over-claim-of-bangladeshi-government-to-grameen-business/

MicroCapital article, January 23, 2013, “MCROCAPITAL BRIEF: Telenor Participates in Launch of MicroEnsure Asia, Opportunity International Sells Stakes in MicroEnsure to International Finance Corporation (IFC), Omidyar Network,” https://www.microcapital.org/microcapital-brief-telenor-participates-in-launch-of-microensure-asia-opportunity-international-sells-stakes-in-microensure-to-international-finance-corporation-ifc-omidyar-network/

MicroCapital article, March 27, 2012, “MICROCAPITAL BRIEF: Telenor’s Easypaisa, Adamjee Life Insurance Partner to Launch Free Life Microinsurance in Pakistan,” https://www.microcapital.org/microcapital-brief-telenors-easypaisa-adamjee-life-insurance-partner-to-launch-free-life-microinsurance-in-pakistan/

MicroCapital article, November 15, 2010, “MICROCAPITAL BRIEF: Grameen Credit Agricole, Grameen-Jameel Pan- Arab Microfinance Guarantee $6, National Societe Generale Bank Loan to The Lead Foundation Egypt,” https://www.microcapital.org/microcapital-brief-grameen-credit-agricole-grameen-jameel-pan-arab-microfinance-guarantee-6m-national-societe-generale-bank-loan-to-the-lead-foundation-egypt/

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