The Serbian Commission for the Protection of Competition allowed PPF Group NV to acquire a 100% holding in Serbia-based Telenor banka ad Beograd from Telenor ASA, news service eKapija reported Aug. 7.

The acquisition still needs to be approved by the National Bank of Serbia, which said Aug. 8 that PPF had not yet filed an application to secure its consent.

The investment group agreed to purchase Telenor banka in June. It also acquired other Central and Eastern European assets from Norwegian telecommunications company Telenor, completing the transaction earlier in August.