E& PPF Telecom, a subsidiary of Emirates Telecommunications Group Company (e&), has completed the acquisition of Serbia Broadband (SBB), a cable television and broadband internet provider.
The €825 million ($891 million) deal was financed through debt secured by the unit, the UAE-based telecom operator confirmed on Wednesday.
In February 2023, e& PPF Telecom Group, a joint venture between e& and Czech-based PPF, signed a binding agreement with United Group, a Balkan telecoms and media company, to acquire SBB.
The acquisition enhances e&’s presence in Central and Eastern Europe and diversifies its revenue sources. Additionally, e& plans to integrate SBB with its Serbian mobile subsidiary, Yettel, strengthening its market position in the region.
