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:
- Transaction Value: Combined enterprise value of €1.5 billion for the two concurrent transactions, marking a historic high for the region’s telecom sector.
- Assets Acquired: Telekom Srbija will acquire Eon TV International Ltd (the holding company for the NetTV Plus platform), its direct-to-home businesses in Serbia and North Macedonia (DTH), and certain Sport Klub rights in the Western Balkans. This acquisition will enhance Telekom Srbija’s digital television services and premium content portfolio.
- Gecić Law’s Role: Gecić Law acted as lead counsel to Telekom Srbija, providing comprehensive legal support (corporate/M&A, regulatory, finance and competition) throughout the process. The firm coordinated closely with Clifford Chance as international counsel to navigate the deal’s cross-border complexities and high-value negotiations.
- Regulatory Approvals: The transaction is subject to regulatory approvals and is expected to close in the first half of 2025
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.
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.
