New CEO Appointed for Bulgaria's GlobulBusiness | July 8, 2013, Monday // 08:56| views
Stein-Erik Vellan is currently head of mobile at Telenor Norway and previously served as CEO of Telenor Serbia and managing director at the company's Indian unit Uninor. Photo by Telenor
Stein Erik Vellan will be named CEO of Telenor recently acquired Bulgarian operation, Globul, the company announced.
Stein-Erik Vellan is currently head of mobile at Telenor Norway and previously served as CEO of Telenor Serbia and managing director at the company's Indian unit Uninor. He will take on his new role once Telenor's acquisition of Globul is finalised, probably in the third quarter of this year.
The Norwegian incumbent in April agreed to buy Globul and retailer Germanos from Greece's OTE for EUR 717 M.
In its latest announcement the company said it has received European Commission approval for the deal.
"We are pleased that Mr. Stein-Erik Vellan will become Globul's new CEO," said Kjell Morten Johnsen, EVP and head of Europe at Telenor, in a statement.
"I am confident that his experience as former CEO of Telenor Serbia and regional knowledge will benefit Globul in further developing the company's position as the country's second-largest mobile operator," he added.
According to Telenor, Globul claims a 36% share of Bulgaria's mobile market, its subscriber base numbering 4.5 million at the end of last year. Globul and Germanos together generated EUR 378 M in revenues in 2012 and EBITDA of EUR 135 M.
In Central and Eastern Europe, Telenor Group is currently present in Hungary, Serbia and Montenegro.
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