February 2025 – Kinstellar's Belgrade team, together with Sullivan & Cromwell, has successfully advised e& PPF Telecom Group, an operator majority-held by the global Emirati-based telco e&, with Czech Group PPF as the other shareholder, on the acquisition of SBB Beograd.
The deal, structured on a debt-free and cash-free basis, paves the way for e& PPF Telecom Group to merge SBB with Yettel, its mobile operator. This merger will unlock new opportunities, enhancing services for clients in Serbia. SBB will continue its media broadcasting operations seamlessly.
In parallel, United Group has divested 100% of its NetTV Plus, DTH assets in Serbia and North Macedonia, as well as Sport Klub rights licenses in the Western Balkans to Telekom Srbija Group, also on a debt-free and cash-free basis.
The Kinstellar team, comprising Milan Samard~ić, Partner, Corporate/M&A, Mina Srećković, Managing Associate, Head of Corporate and M&A, Katarina }ivković, Managing Associate, Mario Kijanović, Managing Associate, Srna Popović, Senior Associate, Đorđe Ilijaaević, Associate, and Jelisaveta Folić, Associate, with assistance from Olga `ipka, Special Counsel, and Duaan Đurić, Junior Associate, on all competition-related matters, provided legal advice on all aspects of the transaction – from the initial due diligence, through structuring and assistance with the transaction agreement.