News of internal revolt among top United Group executives echoes across the region

Bloomberg revealed that it had obtained a letter sent earlier this week by 14 top executives of United Group to the company's board of directors, expressing “deep concern over recent leadership changes” and demanding “urgent measures to reinstate” two ousted leaders — Dragan Solak and Victoriya Boklag.

The story, framed as tensions escalating into open rebellion within the media and telecommunications giant United Group, was picked up by the Bulgarian portal dir.bg, which reminded readers that the company also operates in Bulgaria. Other Bulgarian outlets also covered the news, including 24chasa.bg, novini.bg, petel.bg, frognews.bg, novini247.com, 168chasa.bg, dotbg.bg, and 24plovdiv.bg.

Slovenian media reported on Bloomberg’s findings as well. Under the headline “Rebellion at the Top of United Group After Solak and Director Removed”, the portal 24ur.com reminded readers that the company owns N1 Slovenia and Telemach. The website zurnal24.si published an article titled “Rift in One of the Largest Media Houses, Executives Leave in Protest”, highlighting Bloomberg’s revelation that one of the top executives — Vladislav Ratajac, head of mergers and acquisitions — had left the company, and that two more board members resigned from the board in protest over leadership changes, although they remained employed within the company. Zadnjenovice.info also reported the story.

In Greece, Bloomberg’s report received significant attention. The portal inewsgr.com opened its article by stating: “A serious internal crisis is shaking United Group BV, one of the largest telecommunications and media conglomerates in Europe, as top executives clash with investment fund BC Partners LLP, which controls United Group, following the sudden dismissal of the company’s founder and CEO.” Businessvoice.gr also highlighted the deep concern among United Group's senior management over the recent changes. The news was also carried by sofokleousin.gr, while crisismonitor.gr added that the unfolding events “point to a strategic shift toward EU markets and possible plans for a merger with Alpha, following the Vardinogiannis family’s acquisition of a 50% stake.”

The Greek portal powergame, citing its own sources among majority shareholders, reported that “the decisions of the majority shareholder (BC Partners) are final,” claiming they are “fully legal and in the best interests of United Group and all its shareholders.” The company reportedly stated that Stan Miller and Libor Voncina bring “longstanding and proven experience recognized across the industry.” It was also emphasized that any disputes between Solak and United Group will be resolved in the appropriate courts rather than in public, and that Solak’s bonus will be paid in full once the proper procedures are completed.

Other Greek media echoed these positions, including sepe.gr, naftemporiki.gr, travel-tourism.news-24.gr, businessvoice.gr, euro2day.gr, powergame.gr, businessdaily.gr, and mononews.gr.

International platforms like gurufocus.com and news.bloomberglaw.com have also reported with equal focus on the management upheaval.