KKR exploring sale of United Group?

KKR is exploring the sale of European telecom operator United Group in a transaction that could value the company at up to EUR 3 billion, including debt, according to people familiar with the matter, the Wall Street Journal reported today.

Based in Amsterdam, United Group serves south east Europe, describing itself as the largest alternative telecom provider in the countries that comprised the former Yugoslavia.

The NY-based newspaper reports that the auction comes amid a flurry of deal activity in Europe’s communications and broadcasting sector, with companies such as wireless giant Vodafone Group buying assets across Europe.

United Group was formed in 2007 through a merger between SBB, Telemach Slovenia and Telemach Bosnia.

The Wall Street Journal reports that bankers believe that the sale of United Group might not attract attention from large companies, but that it still might interest investors due to its wide offer and the growing number of users.

It is said that United Group has 3.62 million users. In March 2014, when KKR acquired a majority stake in the company, it had 1.89 million. As of March 31, its income amounts to USD 539.7 million.

United owns SBB in Serbia, Telemach in Slovenia, B&H and Montenegro, as well as TV channels Sport Klub, N1, Cinemania, TOP, Ultra, Grand and others.

Kohlberg Kravis Roberts

United Grupa BROADBAND INVESTMENT S.à r.l.

UG. UNITED GROUP INC Beograd

SBB d.o.o. Beograd

TV N1

Vodafone Group Plc Newbury, Berkshire

TELEMACH d.o.o. Ljubljana

Telemach BH d.o.o. Sarajevo

KKR

United Group

SBB

N1

Vodafone Group

Telemach Slovenia

Telemach Bosnia

Sport Klub

Cinemania

TOP

Ultra

Grand

sale of United Group