United Group to invest over EUR600m in five years

11 May 2018

Southeast European telecoms and media firm United Group will invest over EUR600 million (USD714 million) in the region in the next five years, according to the European Bank of Reconstruction & Development (EBRD), a minority stakeholder in the company, quoted by SeeNews. United Group – with subsidiaries including Serbia Broadband (SBB), Telemach Slovenia, Telemach Bosnia & Herzegovina and Telemach Montenegro – will use the money to invest in infrastructure across its countries of presence, creating jobs and unlocking business opportunities, the EBRD said in a statement.

EBRD vice president Alain Pilloux added: ‘Our engagement with United Group and the cooperation with majority owner KKR [Kohlberg Kravis Roberts, which came on board in 2014] is a real success story. Our shared commitment to the region and achievements to date make us very confident as we look to the future, especially as United Group continues to invest in the region.’ According to the EBRD, United Group has laid over 15,000km of fibre-optic cable, reaching 1.77 million homes and supporting 50,000 businesses, whilst it employs more than 3,400 people.

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