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PwC Legal Advise Blue Sea Capital on Acquisition of Telekom Srbija Tower Portfolio

PwC Legal Advise Blue Sea Capital on Acquisition of Telekom Srbija Tower Portfolio

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PwC Legal, working with Van Campen Liem, has advised Blue Sea Capital on co-investing to acquire the Telekom Srbija telecommunications tower portfolio alongside Actis and in co-operation with Andrej Jovanovic’s family office.

Telekom Srbija is a telecommunications operator in the CEE region, operating across Serbia, Bosnia & Herzegovina, and Montenegro.

According to Blue Sea Capital, “the carved-out portfolio is comprised of approximately 1800 macro towers and is well placed for further commercialization and expansion. The towers market in CEE and the Western Balkans region is forecast to expand significantly over the coming years, driven by the increasing consumer demand for mobile data, the rollout of new technologies such as 5G and 6G as well as changing mobile capacity and coverage requirements. Independent tower companies have a significant role to play in efficiently investing in, improving, and mutualizing passive infrastructure to support mobile growth and overall developments of local economies.”

The PwC Legal team included Slovakia-based Of Counsel Hugh Owen.

PwC Legal did not respond to our inquiry on the matter.

Editor's Note: After this article was published, Deloitte Legal announced it had advised Telekom Srbija. The firm's team included Local Legal Partner Stefan Antonic and Attorneys at Law Vojislav Janicijevic, Igor Dencic, and Srdjan Sijakinjic.

Subsequently, Kinstellar announced it had, working alongside Paul Hastings, advised Deutsche Bank, Alpha Bank, UniCredit, and UniCredit Bank Serbia on a EUR 205 million financing for Actis regarding the acquisition. The Kinstellar team included Partner Petar Kojdic and Managing Associate Mina Sreckovic.

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