United Group BV (United Group), a leading telecommunications and media company in Southeastern Europe, majority owned by BC Partners, announced today that an agreement has been reached to sell SBB, the leading alternative provider of pay TV, broadband internet and fixed telephone services in Serbia, to e& PPF Telecom Group BV (“e& PPF Telecom”).
"The Group has also reached an agreement to sell Eon TV International Ltd (the holding company of the NetTV Plus business), as well as the rights to broadcast sports events in the Western Balkans (Bosnia and Herzegovina, Montenegro, North Macedonia and Serbia) to Telekom Srbija ad Beograd ('TS'). These transactions, with a combined company value of EUR 1,5 billion and an implied EV/2024 EBITDAal (pre-IFRS 16) multiple of 10x, are confirmation of United Group's strong reputation and success in developing market-leading operations and brands across the region over the past two decades," the United Group statement said.
The statement added that United Group will continue to own and operate its key media outlets in Serbia, including N1 and Nova.
"These channels will remain available on SBB's fixed network and will also be offered to Yettel customers. These transactions are subject to customary regulatory approvals and are expected to be completed during the first half of 2025. In addition, as previously announced on January 13, 2025, United Group signed a non-binding memorandum of understanding with BH Telekom dd Sarajevo ('BHT') regarding the potential sale of Telemach BH doo Sarajevo and Telemach Crna Gora doo Podgorica," the statement reads.
United Group said that after completing the transactions with e& PPF Telecom, TS and BHT, it will fulfill its strategic goal of successfully monetizing its telecommunications companies outside the European Union.
They said that no other United Group assets are planned for sale in the near future.
"Our Group was founded on the foundations of SBB almost 24 years ago and has grown into the largest telecommunications and media company in our region. Since its establishment, United Group has rapidly expanded across Southeastern Europe through over 100 mergers and acquisitions and has significantly strengthened its positioning in the European Union since its first foray into the European Union market of Slovenia in 2009. Our expansion into fully convergent European Union markets - Greece, Bulgaria and Croatia - has further strengthened this position," emphasized Viktorija Boklag, CEO of United Group.
She added that the aforementioned transactions are in line with their strategy of focusing on markets where they can provide a full range of mobile and fixed telecommunications services to customers, which will enable them to realize the greatest potential for growth and creation of additional value.
"By streamlining our operations and refocusing on European Union markets, we are improving our efficiency and positioning United Group for long-term success," said Boklag.
Bonus video:
