The US cable operator, United Group, under which SBB operates, has announced new investments in Serbia in the amount of 293 million EUR in the next five years.
United Group is majority owned by funds advised by leading global investment firm KKR since 2014, and is backed by the European Bank for Reconstruction and Development (EBRD) as a minority shareholder since 2004. The Group has a total of 1,881 employees.
United Group presented its investment plan at the meeting with the Serbian President, Aleksandar Vucic. “We welcome your investment. I am satisfied with the number of people you employ and this is a great contribution to our economy. You will always have our support, despite our disagreement with the way you represent Serbia on your channels”, said President Vucic.
“Since KKR’s acquisition of United Group in 2014, we have already invested € 264 million in Serbia. KKR’s commitment to an additional € 293 million over the next five years is a vote of confidence in Serbia’s potential and the progress it achieves towards economic reforms and legal standards of the EU. We thank President Vucic for his continued leadership in ensuring that international investors are welcomed in Serbia, “said Johannes Huth, member and Head of KKR EMEA.
This increased investment will enhance United Group’s delivery of high quality digital services in Serbia. Modern, high-speed telecommunications is essential for economic growth in the country, and we are proud to continue to invest in critical infrastructure for Serbs, “said Vice President of Corporate Affairs at United Group Dragica Pilipovic Chaffey.
United Group has a strong presence and reputation in Serbia for providing critical digital infrastructure, best-in-class connectivity and premium content, with approximately 2.9 million Serbian residents currently benefiting from the company’s services, including in rural areas using satellite TV service.
(Vecernje Novosti, N1, 17.04.2018)
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