A consortium led by private equity firm Actis has acquired the macro tower portfolio of Telekom Srbija, a Serbian state-owned telecom operator.

The portfolio comprises approximately 1,800 macro towers, 1,000 of which are in Serbia, 700 in Bosnia and around 100 in Montenegro.

The transaction, completed on Monday, established an independent tower company fully controlled by Actis, which has already entered into a long-term master services agreement with Telekom Srbija, the tower company’s anchor tenant.

The new acquisition marks Actis’ eighth investment in the digital infrastructure space. The private equity firm has so far committed $1bn (£786.1m) to the digital infrastructure sector. The newly acquired tower portfolio will enable Actis to expand significantly in the Western Balkans region in the upcoming years, which will see the rollout of new technologies such as 5G and 6G, as well as a change in mobile capacity and coverage requirements.

Jaroslava Korpanec, partner and head of Central and Eastern Europe (CEE) at Actis, said in a statement: “We are very proud to lead this groundbreaking investment, marking the first transaction of its type in the Balkans.

“This investment strengthens Actis’ strategic decision to expand its strategy into the CEE region following on investments made in 2022 in the energy sector in Romania and Bulgaria,” Korpanec added. “We look forward to a long-term relationship with Telekom Srbija in developing a first-class tower portfolio in the region.”

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By GlobalData

David Morley, partner and vice-chairman at Actis, welcomed news about the acquisitions, saying: “Actis continues to develop a track record in digital infrastructure, a sector where we see significant potential for future growth in our portfolio. We are excited to deploy capital in the CEE region, where Actis has committed to deploy more capital in the future.”

Telekom Srbija has an established presence in the Western Balkans region with services in Bosnia and Herzegovina, Montenegro, Kosovo and North Macedonia.