The company has announced the acquisition of two domestic cable companies, with more acquisitions set to be announced soon

Serbia’s state-owned telecoms provider, Telekom Serbia, has completed a string of strategic acquisitions, according to a senior company executive. 

Telekom Serbia’s director for internet and multimedia, Vladimir Lucic, confirmed that the company had acquired local cable companies Radijus Vektor and AVcom, for an undisclosed fee. 

The acquisitions form part of the company’s ‘Million Plus’ initiative, which aims to boost Telekom Serbia’s TV and internet subscriber base by 1 million. 

"We decided to put an end to Telekom’s lagging behind, to put it where the national operator should be, which is the position of a leader," Lucic told Serbian news site, Blic. 

"We are not financing these acquisitions with people’s money, instead we have been extremely profitable for ten years," he added.  

"By acquiring cable operators, we increased the number of (Telekom) TV subscribers in Serbia by more than 50 percent in five months, so now we have more than 700,000," he said. 

Telekom Serbia has been actively pursuing a proactive expansion campaign and had in recent months considered a takeover of Albania Telekom in neighbouring Albania. However, given the political sensitivities surrounding the two neighbouring countries, Serbia Telekom’s bid was flatly rejected by the Albanian authorities. 

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