KKR involved in acquisition of Telenor Bank?

The media have been speculating that the Bulgarian investment fund, River Styxx Capital, which intended to buy Telenor Bank in Serbia, is actually controlled by the American KKR Fund, run by the former CIA director turned businessman, David Petraeus.

However, the proprietor of River Styxx Capital, Elvin Guri vehemently denies this claim.

“The answer is unequivocally “no”. I have never worked with or for KKR or for any of its local partners in Serbia, in any capacity. I did not work in the cable or telecommunication industry, either through my fund or as an employee. I have no interest in the telecommunications industry”, Guri is categorical about media allegations.

Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates known as “KKR”) acquired Serbian Broadband (SBB) / Telemach Group in 2013 from Mid Europa Partners.  Retired US General  and the former CIA director,  David H. Petraeus joined KKR in June 2013 and is Chairman of the KKR Global Institute, which supports KKR’s investment committees, portfolio companies, and limited partners with analysis of geopolitical and macro-economic trends, as well as environmental, social, and governance issues.

The turmoil over the failed sale of Telenor Bank to the Bulgarian investment fund has not gone away. Just one day after the NBS announced that had refused to give the Bulgarians a permission to acquire a stake in the aforementioned bank, the Commission for Protection of Competition announced that they also suspended the procedure following Telenor’s request for a strategic partnership with their Telenor Bank filed in November 2017.

(Vecernje Novosti, 07.02.2018)



This post is also available in: Italiano

Share this post

Leave a Reply

Your email address will not be published. Required fields are marked *

scroll to top