Gecic Law, working with Clifford Chance, has advised Telekom Srbija on its acquisition of Eon TV International from United Group as part of a deal that also saw United Group sell SBB Belgrade to e& PPF Telecom Group. Kinstellar, working with Sullivan & Cromwell, advised e& PPF Telecom Group. Moravcevic Vojnovic and partners in cooperation with Schoenherr, working with Kirkland & Ellis, advised United Group.
The transactions, which remain contingent on regulatory approval, have a combined enterprise value of EUR 1.5 billion.
SBB Belgrade offers alternative pay TV, broadband internet, and fixed telephone services in Serbia.
According to Kinstellar, "the deal, structured on a debt-free and cash-free basis, paves the way for e& PPF Telecom Group to merge SBB with Yettel, its mobile operator. This merger will unlock new opportunities, enhancing services for clients in Serbia. SBB will continue its media broadcasting operations seamlessly."
According to United Group, Eon TV International – the holding company of the NetTV Plus business – was sold along with its sports broadcasting rights for the Western Balkans. Furthermore, United Group stated that it will retain its key media outlets in Serbia, including N1 and Nova S, which will continue to be available on SBB’s fixed network and to Yettel customers.
The Kinstellar team included Partner Milan Samardzic, Special Counsel Olga Sipka, Managing Associates Mina Sreckovic, Katarina Zivkovic, and Mario Kijanovic, Senior Associate Srna Popovic, Associates Djordje Ilijasevic and Jelisaveta Folic, and Junior Associate Dusan Djuric.
The Schoenherr team included Partners Slaven Moravcevic, Andrea Radonjanin, Jelena Bezarevic Pajic, and Jovan Barovic and Attorneys at Law Luka Veljovic and Vanja Tica.
