e& PPF Acquires Serbia Broadband (SBB) for €1.5B, Expands Yettel's Reach

UAE-based e& PPF Telecom, a joint venture operating mobile, broadband, and TV under the Yettel brand in parts of Central and Southeast Europe, has struck a deal to acquire 100% of Serbia Broadband (SBB)'s broadband and cable TV operations from United Group, in a transaction valued at around €1.5 billion, including an €825 million cash payment funded via external debt.

While the deal brings SBB's internet and cable TV services into e& PPF, it excludes SBB's direct-to-home satellite (DTH) operations, which will be transferred to Telekom Srbija, and United Group will retain its media holdings, notably N1 and Nova S, which will continue to operate under SBB's distribution.

The acquisition adds approximately 700,000 broadband and TV customers to e& PPF's Serbia business, underlining its strategy to scale service bundles and reinforce fixed-line and broadband offerings under the Yettel banner. CEO Balesh Sharma expressed confidence that the combined operations would deliver improved service quality through synergies and cross-business collaboration across management, operations, and customer support teams.

For United Group, this move aligns with its long-term strategy of exiting non-EU telecom markets and putting sharper focus on operations within the European Union. The firm had already initiated comparable steps in markets like Bosnia & Herzegovina and Montenegro.

Strategically, the deal positions e& PPF more firmly within Europe's telecom landscape, expanding its infrastructure and elevating its market presence in stable currency environments. It also introduces potential new service combinations, improved offerings for existing SBB and Yettel customers, and optimized operations on shared platforms.