Dragan Šolak, a controversial businessman, has sold key assets from his media empire, including the cable operator SBB and the sports network Sport Klub.

The buyer, e&PPF Telecom, has committed 825 million euros for the acquisition of SBB, which is the leading provider of cable television and broadband services in Serbia, serving over 700,000 active users.

Meanwhile, Telekom Srbija acquired operational rights and online platforms for Sport Klub in Serbia and the broader region for 652 million euros.

The acquisition signals a consolidation in the Serbian telecommunications market, likely leaving consumers with limited service providers.

Telekom Srbija, through its MTS division, will maintain its position as a cable, internet, and mobile operator, while e&PPF Telecom will add cable services to its existing internet and mobile offerings via the purchase of SBB.

Industry insiders suggest that customers may see a similar content offering across the top channels, which could foster a competitive environment based more on pricing and service quality.

Previously, Telekom Srbija has announced an agreement to acquire NetTV Plus, a direct-to-home (DTH) service in Serbia and North Macedonia, along with licensing rights for Sport Klub throughout the Western Balkans, further increasing Telekom's presence in the region.

This agreement also includes the purchase of Eon TV International Ltd, which operates under Supernova d.o.o., along with obtaining various related rights and licenses from the United Group, which is now under scrutiny following these significant transactions.

Telekom Srbija's strategic goal is to solidify its status as a leading telecommunications company in the Western Balkans, targeting revenues to reach three billion euros by 2030. The commission of these transactions is expected to close in the first half of 2025. Additionally, the company projects that these acquisitions will lead to increased revenue and operational synergies without significantly raising its current debt levels.

In a separate development, United Group maintains its ownership of major media channels in Serbia, including N1 and Nova S, which will continue operations without editorial changes.

Despite these sales, United Group has asserted its commitment to delivering content to its audience, although it has lost exclusive rights to major sporting events, as rights to Sport Klub will now transition to the Arena Group.

e&PPF Telecom Group BV, a key player in telecommunications across Central and Eastern Europe, now focuses on expanding its service portfolio to complement its existing offerings in Serbia and enhance customer experience.

The transaction marks significant financial movement in the region, with Šolak's enterprises receiving a substantial influx from these sales.

However, reports suggest that United Group is burdened with debt and faced challenges in restructuring prior to the sale.

The telecommunications landscape in Serbia is evolving rapidly, with large-scale acquisitions reshaping market dynamics, affecting both consumer choice and media offerings.

The implications of these transactions are expected to unfold in the coming months as the industry adjusts to new ownership structures.