Abu Dhabi – Mubasher: e& PPF Telecom Group BV (e& PPF Telecom), a subsidiary of Emirates Telecommunications Group Company (e&), has completed the takeover of SBB d.o.o. Serbia, according to a bourse disclosure.
The transaction value is worth EUR 825 million on a cash free and debt free and was financed through debt raised by e& PPF Telecom.
Moreover, the financials of SBB will be consolidated into e& PPF Telecom’s financials starting April 2025, yet the impact on e&’s overall financials will not be material. The parent company e& generated net profits worth AED 10.75 billion and consolidated revenue of AED 59.20 billion in 2024.
The announcement was built on 12 February 2025 statement regarding the ownership of 50% + 1 share acquisition of 100% of SBB, known as Serbia Broadband which is a cable television and broadband internet service provider in Serbia.
Meanwhile, the takeover transaction will enable e& PPF Telecom to combine SBB with its Serbian mobile subsidiary Yettel thereby creating a leading converged operator.
In addition, it is anticipated to realise synergies and enhanced capabilities that will drive value to stakeholders.
It is worth noting that e& recently exited from its investment in the UAE-based Khazna Data Centers, but will remain a business partner.
