United Group, the leading cable operator for the provision of TV, internet, landline and mobile phone services in Southeast Europe, announced additional capital investments in Serbia in the amount of EUR 293 million in the next five years.
Since 2014, the majority owners of United Group have been the funds run by the leading investment company in the world, KKR. The European Bank for Reconstruction and Development (EBRD) has been a minority owner since 2004.
As said in the press release, United Group has a strong presence and reputation in Serbia as a provider of the needed digital infrastructure, high-speed internet, premium TV content and affordable landline phone services for around 2.9 million citizens currently using the company's services, including the village areas which use satellite TV services.
United Group has either built or rented a total of around 15,800 km of optical network, crucial to the development of the business in Serbia. It also provides a new cloud service which enables small and medium companies to use the advantages of the cloud infrastructure in an affordable way.
With 1,881 employees in Serbia, the company also supports local creators through the production of local television programs and films, whereas the United Group web platform enables viewers throughout the world to watch Serbian TV programs.
According to the latest economic prognosis of the European Commission, economic indicators and trends of growth in Serbia remain strong, seeing how both private and state investments are to grow.
– Since KKR’s acquisition of United Group in 2014, we have already invested EUR 264 million in Serbia. KKR’s commitment of an additional EUR 293 million over the next five years is a vote of confidence in Serbia’s potential and the progress it is achieving towards economic reform and EU legal standards – Head of KKR EMEA Johannes Huth said.
Dragica Pilipovic Chaffey, Vice President of Corporate Affairs at United Group, pointed out that “this increased investment will enhance United Group’s delivery of high quality digital services in Serbia”.
– Modern, high-speed telecommunications is essential to economic growth in the country, and we are proud to continue to invest in critical infrastructure for Serbia and its citizens – she said.
KKR is one of the leading investment companies in the world, which manages capital and resources which include private equity, energy sector, infrastructure, real estate and credits, with strategic partners which manage hedge funds.
In addition to the capital it manages for its investors, KKR also invests its own capital and provides financial solutions and investment possibilities through its operations in the capital market.