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, people familiar with the matter told The Wall Street Journal. Based in Amsterdam, United Group provides telecommunications services (TV, fixed telephony, internet and mobile telephony) in Serbia, Bosnia & Herzegovina, Montenegro, and Slovenia. The company also provides pay-TV and fixed-line telephony services over the internet to the former Yugoslav diaspora.
Bankers believe that the sale should generate significant interest from buyout firms because of the company's strong management team, breadth of offerings and subscriber growth. At the end of March, United Group's network passed 1.79 million homes and the company had 3.62 million customers, while annual revenue totalled EUR 539.7 million.
