United Group inked deals to sell fixed and broadcast operations in Serbia, with Yettel parent e& PPF Telecom Group buying its broadband business and various TV assets being acquired by Telekom Srbija.

The transactions have a combined value of almost €1.5 billion, with e& PPF Telecom paying €825 million for broadband and cable business SBB doo Belgrade and Eon TV International being bought by Telekom Srbija for €652 million.

United Group, which owns telecoms and broadcast assets across south-eastern Europe, will retain its news and entertainment channels broadcast in Serbia.

In its statement on the deal, e& PPF Telecom explained under the terms of the agreement it would carve out SBB’s direct-to-home satellite operations which are to be sold to Telekom Srbija.  

It added the deal had a “very clear strategic rationale” with the assets being acquired “perfectly complementing” its Yettel telecoms operation in the country.

CEO of e& PPF Balesh Sharma added the buy was the “the first acquisition by the recently established e& PPF Telecom and is an example of the strategic partnership between PPF and e& already creating value”.

Alongside its deal to buy Eon TV International, which operates in Serbia and North Macedonia, Telekom Srbija acquired a range of sports broadcasting rights for the Western Balkans from United Group.

In its statement, United Group CEO Victoriya Boklag said the “divestments are in line with our strategy to sharpen our focus on the markets where we can provide the full spectrum of mobile and fixed telecommunication services to our customers, which will enable us to realise the greatest potential for growth and value creation”.

“By streamlining our operations and refocusing on EU markets, we are enhancing our efficiency and positioning United Group for long-term success.”

The deals are expected to be completed later in H1 subject to regulatory approval.