Dubai: SBB, a dominant player in Serbia with over 700,000 active customers, reported €244.1 million in revenues for 2023 and maintains a robust 50% EBITDAaL margin. The acquisition is expected to boost e& PPF Telecom’s revenue and EBITDAaL by 12% and 15%, respectively, based on FY 2023 financials.
The deal, spearheaded by e& PPF Telecom Group BV (e& PPF Telecom), will integrate SBB with Yettel, e&’s existing Serbian mobile subsidiary, forming a leading converged operator offering mobile, fixed broadband, and pay-TV services in a market poised for growth.
e&’s expansion into Serbia aligns with its broader European strategy. In October 2023, the company secured a controlling stake in PPF Telecom Group’s assets across Bulgaria, Hungary, Serbia, and Slovakia, strengthening its foothold in the region.
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The €825 million deal will be financed through debt, which will be raised by e& PPF Telecom. Once completed, SBB’s financials will be consolidated into the group’s accounts, further solidifying e&’s position as a key telecom player in Europe.
