Emirates Telecommunications Group Company (e&) has successfully acquired a 100% stake in Serbia Broadband (SBB) for €825 million, equivalent to approximately $891 million. This acquisition was confirmed by e& on Wednesday and is viewed as a significant step in the company’s strategy to expand its presence in Central Eastern Europe.

According to Zawya, the acquisition was financed through debt secured by e& PPF Telecom, a subsidiary of e&. In February, e& PPF Telecom Group, a partnership between e& and Czech-based PPF, had signed a binding agreement with United Group, a Balkan telecommunications and media company, to finalize the takeover of SBB.

With this deal now complete, e& aims to enhance its operations in the region, including plans to integrate SBB with its Serbian mobile subsidiary, Yettel. This move is expected to diversify e&’s revenue sources and strengthen its market position.