United Group, the Amsterdam-based media and telecommunications corporation, has sold its mobile towers infrastructure in Slovenia, Bulgaria and Croatia to the Saudi company Tawal. While the value of the transaction has not been disclosed, United Group values the infrastructure at €1.22 billion.

In Slovenia, United Group owns several media outlets, as well as the telecommunication services provider Telemach.

In a written statement on 21 April , the company said the sale was in keeping with a global trend in the industry of monetising on mobile towers.

The proceeds from the sale will help the group deleverage and release cash flow for further growth, including investments in the mobile networks, with the group planning to build additional 200 towers in the next two decades.

The transaction entails a long-term umbrella contract on services, ensuring continuous use of the infrastructure. The transaction is expected to be completed in the second half of the year.

The buyer, Tawal is a part of the Saudi Telecom Company. This is Tawal's first investment in European telecommunications.

Apart from Telemach, United Group also owns in Slovenia the online shopping portal Shoppster, sport TV channels Sportklub, media company Adria Media and the N1 news portal.