Investment company PPF Group reportedly received three bids for its recently acquired Telenor unit in Serbia and Montenegro, with operators Telekom Austria and Telekom Srbija among the interested parties.

According to business publication, along with the two operators, UK-based investment fund BC Partners is also vying for the potential acquisition.

BC Partners has a presence in the region through regional cable and media company United Group, while Telekom Srbija will look to merge the unit with its Montenegro business m:tel. Telkom Austria has a footprint in Serbia with operator Vip mobile.

PPF sealed a deal to acquire Telenor’s mobile operations across Central and Eastern Europe (CEE) at the end of July, for a value of €2.8 billion at the time.

In addition to Serbia and Montenegro, it also owns Telenor units in Hungary and Bulgaria, as well as its networks and IT business in the region.

A number of companies were reportedly interested in Telenor’s CEE business before PPF made its approach. reported that the interest did not die down, even after PPF secured its takeover, as the investment fund received a number of informal enquiries about a deal.

A source at Telekom Srbija confirmed to the publication it was interested, but it was unsure on PPF’s stance regarding a sale at this stage.

“They do not have a clear answer, and we wait patiently,” a source said.