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BELGRADE (Serbia), November 6 (SeeNews) - Polish private equity firm Abris Capital Partners said on Tuesday it has sold the entire capital of Serbian cable operator Kopernikus Technology to Telekom Srbija.
The transaction was signed on November 1, Abris Capital Partners said in a statement without providing financial details of the deal.
"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 Srbija has recognised the value of Kopernikus Technology," Milorad Andjelic, partner at Abris Capital Partners, said.
Abris CEE Mid-Market Fund III acquired a majority stake in Kopernikus Technology at the end of 2016. Since then, the company has invested heavily in expansion and service quality.
"Telekom Srbija 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," the CEO of Telekom Srbija, Predrag Culibrk, said in a statement. "This acquisition will allow us to widen our customer base and expand our geographic footprint in one of our core markets, where we are the key consolidator."
Prior to the sale to Telekom Srbija, Kopernikus Technology was the leading consolidator of Serbia's cable sector, having acquired and successfully integrated more than 20 smaller cable TV service providers.