Southeastern Europe telecoms and media player United Group agreed to sell its Serbian telecom assets in deals worth a combined €1.5 billion, as the company continues its refocus on core markets within the European Union.
Under the agreements, pay-TV, broadband, and fixed-line telephone provider SBB doo Belgrade will be sold to e& PPF Telecom Group. Meanwhile, Eon TV International Ltd (which owns NetTV Plus) and sports broadcasting rights across the Western Balkans will be sold to Telekom Srbija.
The deals are expected to be completed in the first half of 2025, subject to regulatory approvals.
Despite the sale of telecom assets, United Group will retain ownership of its key Serbian media outlets, including N1 and Nova S. These channels will continue to be available on SBB’s fixed network and will also be offered to Yettel customers.
EU focus
In addition to these transactions, United Group previously signed a non-binding agreement with BH Telekom in January regarding a potential sale of Telemach BH (Bosnia and Herzegovina) and Telemach Crna Gora (Montenegro).
Once all three deals are completed, United Group will have fully exited its non-EU telecom markets, completing a key strategic objective. The company has confirmed that no further asset sales are planned in the near term.
United Group CEO Victoriya Boklag said: “These divestments align with our strategy to focus on markets where we can offer full mobile and fixed telecommunications services—maximising growth and value creation. By streamlining operations and concentrating on the EU, we are enhancing efficiency and positioning United Group for long-term success.”
