Telekom Srbija has acquired Abris Capital Partners’ majority stake in Serbian cable TV and broadband services provider Kopernikus Technology.
Abris, a private equity fund manager for Central and Eastern Europe, said it had sold 100% of its shares to Telekom Srbija, with Reuters valuing the Kopernikus Technology takeover at around €200 million.
Prior to the deal, Kopernikus Technology had acquired and integrated 20-plus smaller cable TV service providers. Abris bought its stake in the business at the end of 2016.
Telekom Srbija CEO Predrag Ćulibrk said that the acquisition of Kopernikus will allow it to widen its customer base and expand its geographic footprint in one of its core markets.
“Telekom Serbia is the leading telecommunications services provider in the region, and Kopernikus is the second largest cable TV and broadband services provider in Serbia, with a high-quality cable network and fiber-optic infrastructure – an asset we value highly,” he said.
Kopernikus Technology’s Srdjan Milovanović said: “Together with Abris Capital Partners we were able to consolidate Kopernikus Technology’s number two position in the market, by continuously investing in our network and the quality of our services.
“I am happy to see that our mutual value added attracted a buyer of the calibre and reputation of Telekom Srbija. I am confident that they will continue to develop the company and the quality of its services to the satisfaction of its existing and future clients.”
Abris Capital partner, Milorad Anđelić, said: “In less than two years from our investment, Kopernikus grew its subscriber base by more than 25% through a combination of organic growth and acquisitions. We are delighted that a Company of the size and reputation of Telekom Serbia has recognised the value of Kopernikus Technology.”