Yettel Serbia

Serbian telecommunications company

Yettel Serbia (known as Telenor Serbia until 2022) is a Serbian mobile, fixed, internet and IPTV provider, owned by the Czech investment group PPF. It is headquartered in Belgrade. as of 2020, it is the second largest mobile telephony operator with market share of 36.98%.

Originally launched in 1994 as Mobtel Srbija ("Mobtel Serbia"; full name: Mobilne telekomunikacije Srbija, "Mobile telecommunications Serbia"), the company's operation was a joint venture founded in 1994 between Moscow based BK Trade (owned by Bogoljub Karić) and government owned PTT. The first NMT network was announced on 31 December 1994. The signal covered major urban areas and highway routes – 60% of Serbia's inhabited territory and 12% of Serbia's land area (Serbia was then a constituent republic within the Federal Republic of Yugoslavia). This service is not commercial anymore. The MSISDN Network Code was 061 (international: +381 61); this code is now appointed to A1 Srbija. The GSM network has been in use since 1996. In 2005, BK Trade sold its shares to a consortium of Austrian investors (through Holdenhurst Holding headed by Martin Schlaff) and the company was renamed Mobi 63.

In 2006, a majority stake in Mobi 63 was sold (70% owned by the Government of Serbia) to the Norwegian Telenor for a sum of 1.513 billion euros. The condition for the acquisition of the remaining 30% of shares, was a bid higher than 1.1 billion euros. The Norwegian company outbid such industry heavyweights as TeliaSonera, France Télécom, Deutsche Telekom, Mobilkom Austria, Orascom Telecom and Tele2. On 31 August 2006, Mobi 63 officially became the property of Telenor and changed its name to Telenor d. o. o. In January 2010, Telenor Serbia acquired a landline operating licence ending the monopoly held by Telekom Srbija. On 26 April 2013, Telenor Serbia bought 100% of shares of the Serbian "KBC bank", establishing Telenor banka. With that transaction, 81,000 clients of the former bank were taken by Société Générale Srbija. Since 10 September 2014, Telenor banka operates on the Serbian banking market. In August 2017, Bulgarian investment fund River Styxx Capital has reached an agreement with Serbia's Telenor Banka to acquire 85 percent of its shares, while Telenor will maintain the remaining 15 percent.

In January 2018, the company's management confirmed media reports that there is interest in sale of Telenor's business in Southeast Europe, including Telenor Serbia. In March 2018, Telenor sold its business in Southeast Europe (Bulgaria, Hungary, Montenegro and Serbia) to the investment fund PPF, for a sum of 2.8 billion euros. As part of the deal, company continued using the brand "Telenor" until early 2022, when the rebranding was announced — since March of that year, the company would take a new name, "Yettel".

In 2010, Ratel delivered Telenor the second license for fixed telephony, which officially abolished the monopoly of Telekom Serbia in this field. Telenor was obliged to start providing fixed telephony services. By signing the first commercial contract to provide fixed telephony services on 20 January 2011, Telenor has met the formal requirements of the license for the second fixed telephony operator. However, as of 2019 Telenor Serbia provides fixed telephony services only to businesses and not to home customers.

In 2021, Telenor announced its plans to offer optical fiber Internet, fixed telephony and IPTV to public. To do so, company started a highly controversial cooperation with one of its strongest competitors, a state owned "Telekom Srbija", who leased its own backbone structure to "Telenor". It was to a dismay of yet another player on the market, United Group owned cable and internet operator, Serbia Broadband. According to that position, the deal was concluded to diminish the influence of SBB and UG owned channels for business and political reasons. Despite it, in November 2021, "Telenor" officially announced its offer under the brand "Hipernet". Although "Hipernet" is offered independently of mobile services, "Telenor" became only the second company to offer quadruple play on the Serbian market.

On 26 April 2013, Telenor announced that it has reached an agreement on the purchase of KBC Bank in Serbia. According to the agreement, Telenor will buy 100% stake in KBC Bank, while Societe Generale Bank will take the portfolio of clients of KBC Bank, which includes 81,000 individuals, entrepreneurs, small and medium enterprises. In August 2017 Bulgarian investment fund River Styxx Capital has reached an agreement with Serbia's Telenor Banka to acquire 85 percent of its shares, while Telenor will maintain the remaining 15 percent. According to media reports, as of July 2017, the bank has more than 300.000 opened MC accounts.