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Kinstellar advises banking consortium on Telekom Srbija’s tower deal

February 2024 – Kinstellar’s team in Serbia, together with global law firm Paul Hastings, has successfully advised Deutsche Bank, Alpha Bank, UniCredit, and UniCredit Bank Serbia on a EUR 205 million financing for global investment firm Actis in relation to their acquisition of a carved-out tower portfolio from Telekom Srbija, a leading telecommunications operator in the Central and Eastern European (“CEE”) region.

The carved-out portfolio is comprised of approximately 1,800 macro towers across Serbia, Bosnia & Hercegovina, and Montenegro.  

Kinstellar’s team, led by Petar Kojdić (Partner) and Mina Srećković (Managing Associate), played a pivotal role advising on the financing aspects of this transaction. Our services included structuring financial arrangements and negotiating financing documents.

The communication towers market in the CEE and Western Balkans regions is expected to experience substantial growth in the coming years, driven by escalating consumer demand for mobile data, the introduction of advanced technologies like 5G and 6G, and evolving mobile capacity and coverage needs.

Telekom Srbija, the leading telecommunications operator in Serbia, is a key player shaping the communication landscape in the CEE region. Decisions such as the recent sale of a carved-out tower portfolio showcase Telekom Srbija's adaptability to global trends and its focus on optimising its assets.


Mina Srećković Managing Associate
+381 69 1811 019
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