United Group Sells Telecommunications Business in the Region, Remains in Croatia

United Group, a leading telecommunications and media company in Southeast Europe, which is majority-owned by BC Partners, announced that an agreement has been reached for the sale of SBB, the leading alternative provider of pay television, broadband internet, and fixed-line telephone services in Serbia, to e& PPF Telecom Group. The Group has also reached an agreement for the sale of Eon TV International (the holding company of NetTV Plus), as well as the rights to broadcast sports events in the Western Balkans (Bosnia and Herzegovina, Montenegro, North Macedonia, and Serbia) to Telekom Srbija.

These transactions, with a total value of €1.5 billion and an implied EV/EBITDA multiple of 10x, are proof of United Group’s strong impact in developing leading business operations and brands across the regional market over the past two decades.

United Group remains the owner and continues to manage its key media in Serbia, including N1 and Nova S. These channels will remain available on SBB’s fixed network and will also be offered to Yettel users.

The transactions are subject to customary regulatory approvals and are expected to be completed during the first half of 2025. Additionally, as announced on January 13, 2025, United Group signed a non-binding memorandum of understanding with BH Telekom Sarajevo regarding the potential sale of Telemach BH Sarajevo and Telemach Montenegro Podgorica.

Upon completion of the transactions with e& PPF Telecom, TS, and BHT, United Group will fulfill its strategic goal of successfully monetizing its telecommunications companies outside the European Union. No sale of any other assets of United Group is planned in the near future.

– Our Group was founded on the foundations of SBB nearly 24 years ago and has grown into the largest telecommunications and media company in our region. Since its inception, United Group has rapidly expanded throughout Southeast Europe through 100 mergers and acquisitions and has significantly strengthened its positioning in the European Union since entering the Slovenian market in 2009. Our expansion into fully convergent markets of the European Union – Greece, Bulgaria, and Croatia – has further solidified this position. The aforementioned transactions align with our strategy focused on markets where we can provide our customers with a full spectrum of mobile and fixed telecommunications services, which will enable us to achieve the greatest potential for growth and create additional value. By enhancing our business operations and focusing on the European Union markets, we improve our efficiency and lay a solid foundation for the long-term success of United Group,” stated Victoriya Boklag, CEO of United Group.