United Group sells company SBB to e& PPF Telecom Group – Telekom Srbija acquires EON TV and licenses for Sport Klub, UG retains N1 and Nova S

United Group B.V., majority owned by BC Partners, has announced that it has reached an agreement to sell SBB doo Belgrade, a leading alternative pay TV, broadband internet and fixed telephone services provider in Serbia, to e& PPF Telecom Group BV, it has been announced.

The Group, as added, has also agreed to sell Eon TV International Ltd (the holding company of the NetTV Plus business) and its sports broadcasting rights for the Western Balkans (Bosnia and Herzegovina, Montenegro, North Macedonia and Serbia) to Telekom Srbija a.d. Beograd.

United Group will continue to own and operate its key media outlets in Serbia, including N1 and Nova S. These channels will remain available on SBB’s fixed network and will also be offered to Yettel customers.

These transactions, with a combined Enterprise Value of EUR 1.5 billion and an implied EV/2024 EBITDAal (pre IFRS 16) of 10x demonstrate United Group’s strong track record in developing market-leading operations and brands across the region over the last two decades, the press release says.

These transactions are subject to customary regulatory approvals and are expected to be completed during H1 2025.

In addition, as previously announced on January 13, 2025, United Group has signed a non-binding agreement with BH Telekom d.d. Sarajevo in relation to a potential sale of Telemach BH d.o.o. Sarajevo and Telemach Crna Gora d.o.o. Podgorica.

– Following the completion of the transactions with e& PPF Telecom, TS and BHT, United Group will have completed its strategic objective of exiting and successfully monetizing its non-EU telco assets. No other of United Group’s assets are planned to be divested in the near-term – the press release adds.

United Group remains owner of N1 and Nova S

United Group remains the owner of key media companies in Serbia - N1 and Nova S, which will continue to provide accurate, reliable and objective information without any changes in editorial positions and be leaders in information, but also in the production of original content, United Media announced.

The announcement adds that the new owners of SBB from the company e& (Etisalat) PPF Telecom have expressed a strong interest in these two televisions remaining part of the offer and a contract was signed with them according to which N1 and Nova S will be available on the SBB cable network, and they will also be offered to Yettel users.

It is added that there are no negotiations or plans to sell any of the United Media media houses, including the Grand and IDJ production houses.

As stated, the only change in the company’s portfolio, caused by the loss of exclusive rights for the biggest sports competitions, refers to the sports channel Sport Klub Srbija. The existing rights to Sport Klub’s sports broadcasts will be transferred to Arena Group in the future. This move, they add, imposed itself as the only viable business solution due to the impossibility of providing television broadcasts of elite sports championships to the audience in Serbia, according to United Media.

Sports content for the media within United Media will be prepared by sports journalists and commentators within the new sports hub under the Sport Klub brand: Nebojsa Viskovic, Darko Plavsic, Gojko Andrijasevic, Ivan Loncarevic, Branko Spasojevic, Nikola Stamenic, Sasa Ozmo, Nikola Jankovic, Jelena Trajkovic, Branimir Smilic, Vladimir Todorovic, Ilija Kovacic, Marko Vlahovic, Dragan Cica, Vladimir Zivkovic, Lazar Jovanovic, Nikola Jancic, Ivan Govedarica and many others.

– The web portal sportklub.rs as well as accounts on social networks continue to work within United Media. Also, the Sport Klub channels in Croatia and Slovenia remain a part of the company, which still own exclusive rights to UEFA competitions, the Champions League and national sports events – according to UM.



Telekom Srbija: We have reached agreement on purchase of NetTV Plus, DTH in Serbia and North Macedonia and Western Balkans Sport Klub rights licenses from United Group for EUR 652

Telekom Srbija group has reached an agreement to purchase NetTV Plus, DTH in Serbia/North Macedonia and Western Balkans Sport Klub rights licenses from United Group, the company announced.

– Telekom Srbija group has reached an agreement to purchase 100% of Eon TV International Ltd (the holding company of the NetTV Plus business), the direct-to-home (DTH) business trading as EoNSat and Total TV in Serbia and North Macedonia, as well as certain rights, licenses and other assets relating to the Sport Klub channels in the Western Balkans (Bosnia and Herzegovina, Montenegro, North Macedonia and Serbia), directly and indirectly, from United Group B.V. for a consideration to 652 million euros, on a cash free and debt free basis – says the press release of Telekom Srbija.

The press release also says that the acquisition is expected to generate extensive synergies, increase revenues and reduce costs. These transactions are in line with Telekom Srbija’s strategy to build the leading telecom company in the Western Balkans, with revenues reaching three billion euros by 2030.

– After the successful issuance in 2024 of its 900 million US dollars inaugural Eurobond, today’s purchase of United Group’s assets will further strengthen Telekom Srbija’s positions in the region and with the ex-Yugoslav diaspora – it is added.

As said, these transactions are not expected to increase current leverage levels of Telekom Srbija.

– The closing of the transactions is subject to customary regulatory approvals and are expected to be completed during H1 2025 – the press release says.

United Grupa BROADBAND INVESTMENT S.à r.l.

SBB d.o.o. Beograd

UG. UNITED GROUP INC Beograd

Telekom Srbija a.d. Beograd

BH Telecom d.d. Sarajevo

Telemach BH d.o.o. Sarajevo

Yettel d.o.o. Beograd

Telemach doo Podgorica

NetTv Plus Beograd

BC Partners LLP

United Group

BC Partners

SBB company

e Etisalat PPF Telecom Group

Eon TV International Ltd

NetTV Plus business

Telekom Srbija

BH Telekom Sarajevo

Telemach BH Sarajevo

Telemach Crna Gora Podgorica

Yettel

Grand

IDJ

Nebojša Višković

Darko Plavšić

Gojko Andrijašević

Ivan Lončarević

Branko Spasojević

Nikola Stamenić

Saša Ozmo

Nikola Janković

Jelena Trajković

Branimir Smilić

Vladimir Todorović

Ilija Kovačić

Marko Vlahović

Dragan Čiča

Vladimir Živković

Lazar Jovanović

Nikola Jančić

Ivan Govedarica