UG: Serbia's Vucic violates Constitution by favouring Telecom and attacking UG

NEWS 20.08.2020 17:43
Source: Promo

Serbia's President Aleksandar Vucic said many untruths about the SBB company, a part of the United Group (UG), trying on numerous occasions to defend Telkom Srbija about whose business failures the public was listening in the last several months, the Group said in a statement on Thursday.

 „Without talking about Aleksandar Vucic’s need and desire to defend the Telekom management, we want to remind him that by being elected President of Serbia he has committed himself to respect the Constitution and laws of the Republic of Serbia, which means that in public appearances he should not favour domestic companies to one of the largest foreign investors,“ the UG said.

The Group also said that „if Vucic forgot“, equality in the market was stipulated by Article 84 of the Constitution of the Republic of Serbia. It means that „everyone has an equal legal position in the market“.

 Besides, the Law on Investments, adopted by the Government then headed by Aleksandar Vucic, in its part about the National Treatment of Foreign Investments, clearly stipulated that „foreign entities or individuals enjoy the same position regarding their investments and have the same rights and obligations as domestic investors.“

„We call on the President of Serbia to respect the Constitution because he has committed himself to that for the benefit of the citizens of Serbia,“ the statement added.

„The United Group employs more than 2,700 people in Serbia alone and considers it inadmissible that „by conducting a public chase, the President underestimates employees and their families who support themselves from working in the United Group .“

„SBB has a tradition of a successful business for over two decades and has recently achieved true success in business results. During all these years, the world’s largest investment funds BC Partners, KKR, as well as the EBRD have invested in our development,“ the statement said.

UG is one of the most successful telecommunications and media companies in Southeast Europe, which will have 11,000 employees and over 10 million users by the end of 2020.

„We operate in seven countries – Serbia, Slovenia, Croatia, Bosnia and Herzegovina, Northern Macedonia, Montenegro, Bulgaria, and we are also preparing for the acquisition in Greece,“ the Group’s statement added.

„United Group reminds the President of Serbia of his responsibility towards the citizens by telling them the truth. UG appeals to him to respect the Constitution instead of covering up the failures of Telekom, by attacking United Group“.

TV N1 is also a part of the United Group.