April 17 (SeeNews) - Multi-play operator United Group said on Tuesday it will make capital investments worth 293 million euro ($362.7 million) in Serbia over the next five years.
United Group, a company owned by US investment firm KKR and the EBRD, currently provides internet and television services to some 2.9 million people in Serbia, it said in a statement sent to SeeNews.
Over the next five years, the company will continue to grow and develop its digital infrastructure in the country.
Since 2014, when KKR entered United Group, the multi-play operator has poured 264 million euro into Serbia.
"KKR's intention to invest another 293 million euro in the next five years represents an expression of confidence in Serbia's potential and the progress it has made in terms of economic reform and EU legal standards," Johannes Huth, head of KKR's operations in Europe, the Middle East, and Africa, is quoted saying.
United Group has 1,881 employees in Serbia. It is the leading digital and analogue cable TV, broadband Internet and landline phone system operator in South East Europe.
($=0.8075 euro)