Telenor will not be selling any of the companies it owns in Central and Eastern Europe (CEE), Reuters said, following reports suggesting the operator may offload its Serbian unit to private equity company KKR.

“We’re very happy with our portfolio in Central and Eastern Europe… we have no plans to make any changes to that at this time,” Sigve Brekke, CEO of the Norway-headquartered operator (pictured), told the news agency.

According to GSMA Intelligence, Telenor is the number two operator in Serbia, with a 32 per cent market share. Telekom Srbija’s mobile unit mts is the leader (45 per cent), with Telekom Austria’s Vip ranked in last place on a 22 per cent share.

Telenor operates in 13 markets across Scandinavia (Norway, Denmark, Sweden), CEE (Hungary, Montenegro, Serbia, Bulgaria) and Asia (Pakistan, Myanmar, Bangladesh, Thailand, Malaysia, and India).

In May, the company reported strong data uptake across emerging markets in a stable set of Q1 2017 results, as Brekke insisted Telenor is laying a “solid foundation” following its decision to exit India through a deal to sell Telenor India to Bharti Airtel.