International investment firm BC Partners completed the acquisition of a majority stake in Balkan triple-play operator United Group from KKR on 4 March following the receipt of all necessary regulatory approvals. KKR and United Group’s management team will retain a ‘substantial’ minority stake, the operator confirmed on its website. The deal was agreed in September 2018, when unconfirmed reports put its value at roughly USD3 billion.
Founded in Serbia and headquartered in Amsterdam, United Group provides services to over 1.8 million homes in Southeast Europe via cable and fibre networks. It operates cable-based broadband, TV and telephony services in Serbia (as Serbia Broadband [SBB]), Montenegro, Slovenia and Bosnia & Herzegovina (all under the Telemach name) alongside satellite TV and IPTV services throughout Europe and worldwide as Total TV and nettvplus, respectively. KKR has invested in the group since 2014.