“There is no other sale of United Group (UG) assets planned in the immediate future,” the UG’s management said in an effort to put an end to the scenarios being discussed in the Greek telecommunications market regarding the sale of Nova.
However, it does not rule out the possibility that Nova will pass under the exclusive control of Serbian businessman Dragan Solak, i.e. BC Partners will sell him its stake (around 60%) in the telecommunications company that is one of the three main providers in Greece.
Divestment from United Group
It has been known for some time that BC Partners has initiated its divestment from United Group, the parent company of Nova (Note: UG belongs to the BC Partners investment fund and the aforementioned Serbian businessman).
As part of this process and as the UG companies were selected to be sold separately, the Saudi Arabian Saudi Telecom Company, Etisalat from the United Arab Emirates and investment funds expressed interest in Nova. It seems that the negotiations with the above entities did not work out.
It remains to be seen whether the discussions between UG shareholders will result in a commonly accepted valuation of Nova, so that BC Partners’ withdrawal can proceed, with information indicating that nothing has been finalized.
