Clifford Chance Advises Telekom Srbija on €652 Million Acquisition of Eon TV International Ltd.

Clifford Chance has advised Telekom Srbija in its acquisition of 100% of Eon TV International Ltd, the parent company of NetTV Plus. The deal, valued at 652 million euros, marks a significant expansion of Telekom Srbija's presence in the Western Balkans, particularly in Serbia and North Macedonia.

Eon TV International Ltd, operating under the names EoNSat and Total TV, is a leading direct-to-home service. The acquisition includes important assets, rights, and licenses tied to the Sport Klub channels across the Western Balkans, including in Bosnia and Herzegovina, Montenegro, North Macedonia, and Serbia. This move is expected to enhance Telekom Srbija’s content offerings, driving further growth and solidifying its competitive position in the region.

With the acquisition aligned with Telekom Srbija’s goal of becoming the leading telecom provider in the region by 2030, the move follows its recent success in issuing a €900 million Eurobond in 2024. The transaction is subject to regulatory approval and is expected to be completed in the first half of 2025.

Vladimir Lučić, CEO of Telekom Srbija commented: "Telekom Srbija, as the leading Western Balkans telecom group, is happy to strengthen its offering of direct to home services in Serbia and North Macedonia and its internet TV (IPTV/OTT) offer to the ex-Yugoslav diaspora around the world. We are also reinforcing the variety of sports content accessible to an even larger audience in the Western Balkans. From now on, our subscribers will be able to watch and enjoy both Arena Sport and Sport klub channels."

Lazard served as the financial advisor to Telekom Srbija, while Clifford Chance LLP and Gecić Law provided legal counsel to Telekom Srbija. Kirkland & Ellis LLP acted as the legal advisor to United Group.

Telekom Srbija is a leading telecommunications company based in Serbia, offering a wide range of services including fixed-line and mobile telephony, internet, television, and digital services. Founded in 1997, the company is owned by the government of Serbia and has a significant presence in the telecommunications market across the Western Balkans. Telekom Srbija operates under the brand name "MTS" and has been a key player in the development of modern telecom infrastructure in the region. The company’s mission is to enhance connectivity and provide innovative services to its customers, with a focus on improving communication, entertainment, and digital experiences. Telekom Srbija is committed to delivering high-quality services and is dedicated to contributing to the region's technological progress and economic growth.

Clifford Chance’s cross-border team, led by partners Anastasios Tomtsis, Niek De Pauw, and Nick Spurrell, played a key role in managing the complex transaction. The deal is anticipated to yield significant synergies, boost revenues, and reduce costs for Telekom Srbija. The deal team included Emma Boobbyer, Mitchell Paul, Beatriz Perez, Dorothy Adu-Mfum, Francesca Warren (M&A), Jamie Andrew, Hari Pannum and Jennifer Allardice (London Tech//Digital), Rebecca Shepherd, Harry Tiara and Simon Williams (Finance), Nicola Hemsley and Viktoria Parkhomenko (Tax), Aleksander Tombinski, Jonathan Blondeel, George Tyler, Natasha Godsiff (Antitrust).

Clifford Chance is a global law firm, established over 100 years ago, renowned for its expertise in banking, corporate law, finance, dispute resolution, and tax. With offices worldwide, it serves clients including corporations, financial institutions, governments, and not-for-profits. The firm delivers high-quality legal advice, combining global standards with local expertise, and strives to exceed client expectations by providing innovative solutions across all sectors.

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