Gecić Law is proud to announce that it served as lead legal advisor to Telekom Srbija Group in a landmark telecommunications transaction in the Western Balkans. Telekom Srbija Group has agreed to acquire NetTV Plus, DTH in Serbia/North Macedonia and Western Balkans Sport Klub rights licenses from United Group. The acquisition is part of a broader deal with a combined enterprise value of €1.5 billion, representing one of the largest telecom sector transactions in the region’s history. As part of the broader transaction, e& PPF Telecom—majority-owned by e& and Czech Group PPF—will acquire SBB and integrate it with Yettel. This deal significantly bolsters Telekom Srbija’s market position and expands its digital content offerings for consumers across the Western Balkans and Southeast European diaspora.
Key Deal Highlights:
Gecić Law’s team continues to advise Telekom Srbija through the closing process, including guidance on competition clearance and other closing conditions.
This milestone deal underscores the increasing prominence of the Western Balkans in large-scale telecom and media investments. Gecić Law’s multi-disciplinary team leveraged deep regional expertise to ensure a smooth execution of the transaction from start to finish. The firm’s mandate covered all facets of the deal – from due diligence and structuring to addressing sector-specific regulations and antitrust requirements – exemplifying its capability to handle complex cross-border transactions. Throughout the process, the firm collaborated closely with Clifford Chance, aligning local strategy with international best practices to structure the acquisition for a successful closing.
Bogdan Gecić, Founding Partner of Gecić Law, remarked: “We are thrilled to have supported Telekom Srbija Group in achieving this milestone. This landmark acquisition is a testament to the Western Balkans’ potential and Telekom Srbija’s visionary approach to growth. We are proud to be part of an endeavor that not only elevates Telekom Srbija’s strategic position but also signals a new era for the region’s telecommunications landscape.”
Ognjen Colić, Partner and Head of Corporate/M&A at Gecić Law, added: “This complex deal required strict focus and precision. Our team navigated a dynamic regulatory and contractual landscape and coordinated multiple workstreams to ensure an efficient process. The successful outcome underscores Gecić Law’s commitment to delivering pragmatic, effective legal solutions in high-value corporate transactions.”
As Telekom Srbija Group’s lead legal advisor, Gecić Law’s Corporate/M&A, Administrative & Regulatory, Competition Law, EU Law and Banking & Finance practices played a pivotal role in facilitating the smooth execution of this complex cross-border transaction.
The Gecić Law team, led by partners Bogdan Gecić, Ognjen Colić, and Miodrag Jevtić; counsel Miloš Petaković; senior associates Vuk Leković and Žarko Popović, and associates Dušan Jablan, Vasilije Bošković, Nikola Ivković, Marko Jović, and Aleksa Stojanović worked tirelessly to ensure the success of this deal.
In addition to Gecić Law, Telekom Srbija Group’s legal advisors were Clifford Chance (International Counsel), Fellner Wratzfeld & Partner (Austria), Kaimakliotis & Co (Cyprus), Lalive (Switzerland), and Zdolšek (Slovenia). Sullivan & Cromwell LLP was the legal adviser of e& PPF Telecom, and Kirkland & Ellis LLP for United Group.
Read Telekom Srbija Group’s press release.
Further media coverage is available here:
e& PPF Telecom Buys Serbia Broadband to Lift Balkan Foothold – Bloomberg
United Group sells Serbia Broadband to e& PPF Telecom Group, disposes other assets | Reuters
United Group sells Serbia Broadband to e& PPF Telecom Group, disposes other assets – Yahoo finance
United Group sells Serbia’s SBB, other assets for 1.5 bln euro | Serbia Deals News | SeeNews
United Group sells Serbian assets – BroadbandTVNews
BC-backed United Group to sell non-EU telco assets at combined EV of €1.5bn | PE Hub
United Group exits Serbia with asset sales to Yettel and Telekom Srbija – Telecompaper
Kirkland-Led Telecoms Biz To Sell Balkan Units For €1.5B – Law360
As Telekom Srbija integrates these new assets, Gecić Law stands ready to support the client through the closing and beyond. The firm’s involvement in this historic transaction reaffirms its position as a market leader, building on a series of high-profile deals that continue to drive growth and innovation across the Western Balkans and beyond.
Click here to access a pdf version of this announcement.
