United Group, which is majority owned by the global investment firm KKR, has announced an additional capital investment of €293 million in Serbia over the next five years.
United Group is a leading provider of multi-play services in South East Europe and has a strong presence in Serbia, where it has around 2.9 million customers. They include ones living in rural areas that receive its DTH service.
Commenting on the additional funding, Johannes Huth, member and head of KKR EMEA, said: “Since KKR’s acquisition of United Group in 2014, we have already invested €264 million in Serbia. KKR’s commitment of an additional €293 million over the next five years is a vote of confidence in Serbia’s potential and the progress it is achieving towards economic reform and EU legal standards. We thank (Serbia’s) President Vucic for his continued leadership in ensuring that international investors are welcomed in Serbia.”
Dragica Pilipovi? Chaffey, VP of corporate affairs at United Group, added: “This increased investment will enhance United Group’s delivery of high quality digital services in Serbia. Modern, high-speed telecommunications is essential to economic growth in the country, and we are proud to continue to invest in critical infrastructure for Serbians.”
Meanwhile, speaking about the investment and quoted by Novosti, President Vucic said: “We welcome your investment. I am satisfied with the number of people you employ and this is a great contribution to our economy. We will always have our support, despite the clear disagreement with the way you represent Serbia on its channels”.
Novosti adds that Johannes Huth thanked President Vucic for the support Serbia gives to the company and foreign investment in the country. He stressed that the reforms that Serbia has implemented are not always light and popular and that they needed great courage.
“Your courage to implement these reforms should be a good example for others”.
