United Group Sells SBB Serbia to e&/PPF and NetTV Plus (Western Balkans rights) to Telekom Srbija
February 11, 2025
United Group (majority owned by BC Partners) has agreed to sell SBB doo Belgrade to e& (Etisalat) and PPF Telecom (together “e&/PPF”), and to sell its NetTV Plus business and sports broadcasting rights for the Western Balkans to Telekom Srbija. The combined transactions carry an enterprise value of €1.5 billion (implied EV/2024 EBITDAal of ~10x) and are subject to customary regulatory approvals, expected to close in H1 2025.
- Buyers
- e& (Etisalat), PPF Telecom B.V., Telekom Srbija a.d. Beograd
- Targets
- SBB doo Belgrade, NetTV Plus (NetTV Plus business and Western Balkans sports broadcasting rights)
- Sellers
- United Group B.V., BC Partners
- Industry
- Telecommunications
- Location
- Serbia
- Transaction Type
- Divestiture
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