May 13 (SeeNews) - Telenor Serbia invested 3.5 million euro ($3.8 million) in March to reinforce its capacity ahead of the expected increase in mobile traffic caused by the lockdown in the country, Serbian media reported on Wednesday.
"In order to respond to the increased demand and provide quality connectivity, in March alone we invested 3.5 million euro and upgraded a total of 500 locations in the first four months of 2020," news daily Blic quoted the CEO of Telenor Serbia, Mike Michel, as saying.
Despite the high demand during the lockdown, Telenor Serbia's network remained stable and secure and covered the critical needs of the society, Michel said.
"In the first few weeks [of the lockdown], the value of voice and Internet traffic broke all records so far," he added.
Czech Republic-based investment group PPF acquired Norwegian mobile operator Telenor's telecommunications assets in Bulgaria, Hungary, Montenegro and Serbia for 2.8 billion euro on an enterprise value basis in July 2019.
Serbia, with a population of around 7 million, has three operators active in the mobile segment - Telekom Srbija, Telenor Serbia and Vip Mobile.
($ = 0.920026 euro)