e& PPF Telecom, a subsidiary of Emirates Telecommunications Group Company (e&), has successfully acquired a 100% stake in Serbia Broadband (SBB), a leading cable television and broadband internet service provider, for EUR 825 million ($891 million). The acquisition was financed through debt secured by the unit, the UAE-based telecom operator confirmed on Wednesday.
This deal follows a binding agreement signed in February between e& PPF Telecom Group, a joint venture of e& and Czech-based PPF, and United Group, a Balkan telecoms and media company, to take over SBB. The acquisition is expected to expand e&’s presence in Central and Eastern Europe while diversifying its revenue streams.
With the deal now complete, e& intends to integrate SBB with its Serbian mobile subsidiary, Yettel, further consolidating its position in the region.
