Telekom Srbija has reached an agreement to acquire NetTV Plus and associated sports broadcasting rights from United Group for €652 million, aimed at enhancing its market position and service offerings in the Western Balkans.

Target Company Overview

Telekom Srbija has successfully reached an agreement to acquire 100% ownership of Eon TV International Ltd, the holding company for NetTV Plus, which operates direct-to-home (DTH) services under EoNSat and Total TV in Serbia and North Macedonia. Additionally, the agreement includes the purchase of specific rights, licenses, and other assets related to the Sport Klub channels for the Western Balkans, which encompass Bosnia and Herzegovina, Montenegro, North Macedonia, and Serbia. This acquisition is concluded with United Group B.V. (Junajted Grupa) for a total consideration of €652 million, structured without cash and debt.

This acquisition positions Telekom Srbija to leverage significant synergies, enhance revenue, and reduce costs, aligning with its strategic goal of becoming the leading telecommunications entity in the Western Balkans. The company aims to achieve revenues reaching €3 billion by 2030, further solidifying its market presence following a successful €900 million euro bond issuance in 2024.

Industry Overview in the Western Balkans

The telecommunications and media industry in the Western Balkans is experiencing notable growth, driven by increasing demand for diverse content and advanced communication services. The region, with its complex histori