Telekom Srbija
A Serbian state-controlled telecommunications group providing mobile, fixed-line, broadband, television, media and related digital services.
Last updated August 21, 2026
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Overview
Telekom Srbija a.d. Beograd is a Serbian telecommunications company and holding group headquartered in Belgrade. Established in May 1997 during the restructuring of Serbia’s former postal and telecommunications system, it was created as a joint-stock company by separating the telecommunications business from PTT Srbija, now known as Pošta Srbije. Its original ownership was divided among PTT Srbija, Telecom Italia and OTE Greece. The Serbian state subsequently consolidated control by acquiring or receiving the foreign shareholders’ interests, leaving Telekom Srbija as a state-controlled enterprise with additional ownership held by citizens and current and former employees. The company began operating its mobile network in 1997 and introduced commercial mobile services in 1998 under the Mobile Telephony of Serbia, or mts, identity. Over time, mts became the principal consumer-facing brand for many of Telekom Srbija’s services. The group expanded beyond traditional voice telephony into internet access, television, digital media and regional telecommunications. ADSL and 3G services were introduced in 2006, IPTV followed in 2008, and LTE services were introduced in 2015. In April 2015, most services in Serbia began to be presented under the mts brand. Telekom Srbija remains a major operator in the Serbian market across fixed-line telephony, mobile communications, broadband internet and pay television. Its television portfolio has included the Iris IPTV service, Supernova cable television, Antena Plus digital terrestrial pay television and m:sat TV satellite services. Through HD-WIN and related operations, the group has also developed a significant sports and media presence, including Arena Sport channels. Its internet and media ecosystem has included services such as Mondo.rs, while its wider group has incorporated cable operators and communications businesses. The company pursued regional expansion during the 2000s. In 2006 it acquired a controlling interest in Telekom Srpske, now operating as m:tel in Bosnia and Herzegovina, after competing for the asset against Telekom Austria. In 2007 it entered Montenegro through a consortium that obtained a mobile license; its Montenegrin subsidiary m:tel is majority-owned by Telekom Srbija. The group also operates MTEL-branded mobile virtual network services for diaspora and other customers in several European markets, including Austria, Germany, North Macedonia and Switzerland. A further expansion phase in Serbia focused on cable and fixed broadband assets. Telekom Srbija acquired Kopernikus Technology in 2018 and Radijus Vektor and AVcom in 2019, strengthening its position in cable television and broadband. The acquired assets were integrated into the group’s converged communications offering, including the Supernova platform. These transactions also attracted public and political controversy, particularly the valuation and ownership background associated with the Kopernikus purchase. By 2020, available market data cited in the company’s Wikipedia coverage placed Telekom Srbija, including the Moja Supernova platform, as Serbia’s largest internet provider, largest fixed-line telecommunications provider and largest mobile operator by subscribers or market share measures used in the cited data. The group’s strategy combines network infrastructure, bundled communications, television and sports media, and regional distribution. Its principal identity in Serbia is therefore both a national telecommunications operator and a broader communications-and-content group.
History
Telekom Srbija was formed in May 1997 as part of the transformation of PTT Srbija’s telecommunications operations. The new joint-stock company initially had three shareholders: PTT Srbija with 51 percent, Telecom Italia with 29 percent and OTE Greece with 20 percent. Its mobile network was established on 9 June 1997, and commercial mobile services began in 1998 under the Mobile Telephony of Serbia, or mts, business. The ownership structure changed during the following decade. In 2003, PTT Srbija acquired Telecom Italia’s interest, raising its ownership to 80 percent. Telekom Srbija later acquired OTE Greece’s remaining 20 percent in January 2012. A share distribution process also gave Serbian citizens and company employees and former employees interests in the business. The Serbian state remained the controlling shareholder. The company broadened its services as Serbia’s communications market developed. It introduced 3G mobile technology and ADSL internet in 2006, IPTV in 2008 and LTE mobile technology in 2015. Fixed-line telecommunications, mobile services and broadband remained core activities, while television and digital content became increasingly important parts of the group’s proposition. Regional expansion began in the mid-2000s. In 2006 Telekom Srbija acquired 65 percent of Telekom Srpske in Bosnia and Herzegovina. In Montenegro, it entered the market in 2007 after a consortium including Telekom Srbija obtained a third-mobile-operator license. The resulting m:tel subsidiary is majority-owned by Telekom Srbija. The group subsequently developed MTEL-branded virtual mobile services in several European countries, including Austria, Germany, North Macedonia and Switzerland. Telekom Srbija also expanded into media and financial services. It became majority owner of HD-WIN in 2011, bringing the Arena Sport television operation into its group. In January 2015 it acquired a 55.8 percent stake in Dunav banka, which was later renamed mts banka. The bank was subsequently outside the group’s central telecommunications identity, but the transaction illustrated the company’s broader diversification at that time. From 2018 onward, domestic cable acquisitions became a central growth strategy. Telekom Srbija purchased Kopernikus Technology in November 2018 and acquired Radijus Vektor and AVcom in January 2019. The purchases strengthened the company’s position in cable television and broadband and supported the development of the Supernova platform. They also attracted criticism in Serbia, especially the Kopernikus transaction, whose reported price was widely debated in relation to the company’s perceived value and the political connections of its former owner. The group continued to combine network expansion with content development. Its portfolio has included Iris IPTV, Supernova cable services, Antena Plus digital pay television, m:sat TV satellite television, Arena Sport channels and digital media properties. In 2019, HD-WIN and Euronews reached an agreement to launch Euronews Serbia. By 2020, the company and its Moja Supernova platform were described in cited market data as leading Serbia’s fixed-line and internet markets and as the country’s largest mobile operator by the relevant market-share measure. Telekom Srbija’s modern identity is consequently that of a state-controlled regional communications group rather than only a traditional fixed-line telephone company.
- 2019
Radijus Vektor and AVcom are acquired
[1]Two additional Serbian cable operators join the group.
- 2019
Euronews Serbia agreement is signed
[1]HD-WIN and Euronews agree to establish a Serbian news channel.
- 2018
Kopernikus Technology is acquired
[1]The acquisition expands Telekom Srbija’s domestic cable and broadband operations.
- 2015
LTE services are introduced
[1]The company launches fourth-generation mobile technology in Serbia.
- 2015
Most Serbian services adopt the mts brand
[1]Telekom Srbija begins presenting most of its Serbian consumer services under the mts identity.
- 2012
OTE’s remaining stake is acquired
[1]Telekom Srbija acquires the 20 percent interest previously held by OTE Greece.
- 2011
HD-WIN becomes majority-owned
[1]Telekom Srbija takes majority ownership of HD-WIN, the company associated with Arena Sport television channels.
- 2008
IPTV is launched
[1]Telekom Srbija introduces IPTV as part of its move into bundled digital communications services.
- 2007
Entry into Montenegro
[1]A consortium including Telekom Srbija receives a Montenegrin mobile license, leading to the creation of majority-owned m:tel.
- 2006
3G and ADSL services are introduced
[1]Telekom Srbija adds third-generation mobile technology and ADSL internet services.
Products and positioning
A state-controlled national telecommunications leader combining fixed and mobile connectivity with broadband, pay television, sports media and regional Balkan operations.
Mobile telecommunications · 1998
mts mobile services
The mts mobile business is Telekom Srbija’s principal Serbian wireless offering. It developed from the Mobile Telephony of Serbia operation established in 1997 and commercially launched in 1998. The service has supported successive generations of mobile technology, including 2G, 3G, 4G/LTE and later network-generation development. It serves consumer and business customers through voice, messaging, mobile data and related connectivity products.
Fixed telecommunications · 1997
Fixed-line telephony
Fixed-line telephony is one of Telekom Srbija’s legacy and continuing businesses. The company historically operated Serbia’s fixed network under a near-monopoly structure and remains a major provider of residential and business fixed voice connections. The fixed network also supports broadband and converged communications services.
IPTV · 2008
Iris
Iris is Telekom Srbija’s IPTV service in Serbia. It combines television distribution with the operator’s fixed broadband infrastructure and forms part of the company’s move from stand-alone telephony toward bundled communications and entertainment services.
Cable television and broadband
Supernova
Supernova is the group’s cable television and broadband platform. It incorporates capabilities and customer bases obtained through domestic cable acquisitions, including Kopernikus Technology, Radijus Vektor and AVcom. The platform supports bundled internet, television and related communications services in Serbia.
Satellite television
m:sat TV
m:sat TV is Telekom Srbija’s satellite television offering, available in Serbia and Montenegro according to the cited company coverage. It extends the group’s pay-television proposition beyond fixed broadband and cable-network footprints.
Digital terrestrial pay television
Antena Plus
Antena Plus is the group’s digital terrestrial pay-television service in Serbia. It provides a television distribution option that does not depend on a customer having a fixed cable or IPTV connection.
Sports television
Arena Sport
Arena Sport is a sports television network associated with HD-WIN, which became majority-owned by Telekom Srbija in 2011. The channels have been distributed in Serbia and several neighboring markets, including Bosnia and Herzegovina, Croatia, Montenegro and North Macedonia, and form a major content asset within the group.
Mobile virtual network services
MTEL
MTEL-branded operations provide mobile virtual network services in selected European markets, including Austria, Germany, North Macedonia and Switzerland. These services extend Telekom Srbija’s consumer reach beyond its owned or majority-owned Balkan mobile networks.
Controversies
2018
Controversy over the Kopernikus Technology acquisition
The acquisition of Kopernikus Technology for a reported €190 million prompted public criticism in Serbia. Critics argued that the price appeared substantially above the company’s perceived market value, and reporting highlighted the former owner’s connection to a relative of an official associated with the ruling Serbian Progressive Party. The transaction became a prominent controversy surrounding Telekom Srbija’s expansion strategy and the use of state-controlled corporate resources.
Brand decisions
2019
Acquire Radijus Vektor and AVcomM&ABackground
The company continued consolidating Serbia’s fragmented cable and broadband market.
Action taken
Telekom Srbija acquired the domestic cable operators Radijus Vektor and AVcom.
Aftermath
The transactions expanded the group’s cable network and supported the development of its integrated television and broadband offering.
Reported combined transaction value. €120 million (January 2019)
2018
Acquire Kopernikus TechnologyM&ABackground
Telekom Srbija sought to expand its domestic cable, broadband and pay-television footprint.
Action taken
The group acquired Serbian cable operator Kopernikus Technology.
Aftermath
The acquisition strengthened the group’s cable position and later formed part of the Supernova service platform, while also becoming the subject of public controversy over valuation and political connections.
Reported acquisition price. €190 million (November 2018)
2015
Adopt mts as the principal Serbian consumer identityStrategyBackground
Telekom Srbija was expanding from traditional fixed and mobile telephony into broadband, television and other digital services.
Action taken
From April 2015, most of the company’s services in Serbia were presented under the mts brand.
Aftermath
The change created a more unified consumer identity while Telekom Srbija remained the corporate and group name.
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