Where do you mostly operate now? In Prague, the Balkans, or the Middle East?
Today my home base is Prague, but my role is truly regional. I spend a significant amount of time across our markets in Central and Eastern Europe – Slovakia, Hungary, Bulgaria and Serbia – while also working very closely with our colleagues from e& in the Middle East. The centre of gravity for us, is here in Europe, yet the partnership with e& gives us a global perspective and access to capabilities that go far beyond one region.
What is it like to spend thirty years in the same industry? And how does your current role at PPF differ from your previous positions at Vodafone?
Telecommunications has changed so dramatically over the past thirty years that it never felt like doing “the same thing”. We have moved from basic voice and SMS to mobile internet, from feature phones to smartphones, and now to 5G, cloud and AI-enabled services. At Vodafone I had the privilege of leading large operations in several countries and driving transformation from within a global group. At PPF, and now e& PPF Telecom Group, the mandate is broader: to shape a regional champion, make bold investment decisions and build bridges between very different markets and cultures, together with a strategic partner that has already gone through the “telco to techco” journey.
Is there any difference in the work culture at PPF compared to Vodafone?
Every organisation reflects its shareholders and its history. Vodafone is a global corporation with deeply standardised processes and a very strong, unified culture. PPF, on the other hand, combines entrepreneurial spirit with long-term ownership and a very pragmatic, hands-on approach to value creation. You can see the faster decision‑making, and a higher tolerance for calculated risk with a strong focus on results at PPF, while still keeping the professionalism and governance you would expect from a large international group.
If you were to summarize your know-how in managing such a large company in one paragraph, what would it look like?
Leadership in a group of this size is about three things: clarity, trust and execution. First, you must be crystal clear on where the company is going and why – people will forgive many things, but not confusion. Second, you build teams you genuinely trust, give them space and hold them accountable for outcomes, not activity. And third, you relentlessly focus on execution: translating strategy into concrete investments, measurable goals and visible improvements for customers, employees and shareholders.
Do you remember when Petr Kellner offered you the position of leading PPF’s telecommunications division? After all, you were competitors back then.
Yes, that is a moment you do not forget. We knew about each other from opposite sides of the table when PPF was building its telecom portfolio and I was still in Vodafone, so there was a lot of mutual respect combined with tough competition. However, the actual opportunity to meet Petr came later, after I had already moved back to India. The conversation was about ambitions – how far the telecom business in this region could go with the right investment horizon and leadership. That long‑term, entrepreneurial view was ultimately what convinced me to join PPF.
Did you know that both of you started in the same business? In the early 90s, you were both trading copiers.
It is a funny coincidence, but it also says something about that generation of entrepreneurs and managers. Starting in very down‑to‑earth businesses teaches you discipline, customer focus and respect for cash – nothing is guaranteed, every customer matters. Those lessons stayed with me when I moved into telecoms and they are still relevant today, even when we talk about 5G, AI or complex M&A.
PPF Group recently made changes in management – Didier Stoessel and Kateřina Jirásková became CEOs. Does this affect the strategy or direction of e& PPF Telecom Group?
The strategic direction of e& PPF Telecom Group remains unchanged. The management changes at PPF do not alter our mandate to grow the telecom business, accelerate investments and create value in our markets. I continue to have the full support of PPF’s leadership and of e&, and our teams in Slovakia, Hungary, Bulgaria and Serbia are focused on executing the same strategy that has already proven successful.
What is it like working for two shareholders – PPF and Emirates Telecommunication Group Company (known as e&)? Do their approaches to developing the telecommunications business differ in any way?
It is a privilege, but it also requires discipline and transparency. PPF brings deep local knowledge of Central and Eastern Europe and a strong track record in building telecom assets here, while e& contributes global scale, a proven techco transformation and access to capabilities in areas like AI, cloud and digital services. Their perspectives are naturally different, yet highly complementary – and my job is to align them around a common plan and make sure our local teams can execute without unnecessary complexity.
Which markets within your portfolio do you consider the most promising over the next 3–5 years — and why?
Each of our four core markets has a clear growth story, but in slightly different ways. Slovakia and Hungary offer room to grow convergent services and digital ecosystems on top of already strong mobile positions, while Bulgaria and Serbia stand out through continued demand for high‑speed broadband and pay‑TV, as well as overall macro growth potential. The common thread is that penetration of advanced digital services is still lower than in Western Europe, so there is more runway for innovation to enhance customer experiences.
What does this year’s acquisition of SBB in Serbia mean for the long-term strategy of the group?
SBB is a landmark transaction for us because it demonstrates, in a very concrete way, what we mean by building a converged operator. By combining SBB’s leading broadband and TV business with our mobile operator Yettel Serbia, we are creating a truly integrated player with over 700,000 broadband and TV customers and a strong mobile market share. It strengthens our position in one of the most attractive markets in the region and serves as a blueprint for how we can approach convergence and scale elsewhere. The same strategic logic underpins our acquisition of UPC Slovakia in December, where integrating fixed broadband and TV services with O2‘s mobile operations will set the foundation for a fully converged offering and deeper customer relationships.
What other acquisitions are you considering in the Balkans or Southeast Europe? What types of companies are you looking for?
We do not comment on specific targets, but our strategy is clear: we look for assets that deepen our presence in existing markets or give us logical adjacency, and where we can create value through convergence, scale or capabilities. That includes fixed broadband, pay‑TV, and potentially digital or infrastructure‑focused companies that fit our long‑term plan and meet our financial criteria.
Why do telecommunications in this region offer much better opportunities than in Western Europe?
Central and Eastern Europe offers a combination of solid economic fundamentals, underpenetration in some advanced services and a more dynamic competitive environment. In many Western European markets, growth is low, regulation is heavy and consolidation is slow, which limits returns. This part of the region offers a fantastic test bed for innovation which in turn drives greater quality networks and customer experience.
Do you truly have no intention of gradually dissolving PPF Telecom Group into e&? After all, e& is much larger and likely interested in eventually absorbing your joint business.
The creation of e& PPF Telecom Group was never about dissolving one organisation into the other, but about building a strong regional platform together. e& holds a controlling stake in our operating companies, while PPF remains a significant shareholder, and both are committed to long‑term value creation in this structure. Any future steps will be guided by what is best for our customers, employees and shareholders in the region, not by an abstract desire to “absorb” for its own sake.
How do you and e& think about joint expansion in the Middle East? What types of companies or services are you looking to invest in in this region?
Our primary mandate as e& PPF Telecom Group is Central and Eastern Europe, while e& directly leads its operations in the Middle East, Asia and Africa. That said, there is a lot of exchange of know‑how and, where it makes sense, we can participate in joint initiatives – particularly around digital platforms, cloud, AI‑enabled services or enterprise solutions that can be scaled across several regions.
The vision of a “techco” model — what does this specifically mean for e& PPF Telecom? What services or products could be created in addition to the existing ones?
For us, techco means moving beyond connectivity to become a partner in our customers’ digital lives and businesses. Concretely, this involves areas like cloud and cybersecurity services for enterprises, IoT solutions for industry and smart cities, and digital platforms that integrate content, payments and everyday services for consumers. We are building on e&’s experience with this transformation, adapting proven concepts to the realities of Slovakia, Hungary, Bulgaria and Serbia.
What is your approach to consolidating infrastructure and services (mobile networks, fixed internet, IPTV) within the group to achieve the maximum synergies?
PPF was one of the pioneers of separating infrastructure from retail operations in this region, and that remains a cornerstone of our model. We operate dedicated infrastructure companies alongside our service brands, which allows us to invest efficiently in networks while giving commercial teams the freedom to innovate on products and customer experience. Where it creates value, we integrate fixed and mobile networks more tightly, share platforms and harmonise IT, but always with the end customer in mind, not just synergy spreadsheets.
How far is e& PPF in the real-world deployment of AI, and what can customers expect from such changes?
AI is already present in our business today – in network planning, preventive maintenance, fraud detection and increasingly in customer interactions. In practical terms, customers can expect more personalised offers, smarter digital assistants, faster problem resolution and networks that “heal” themselves before a problem becomes visible. Over time, AI will help us make services simpler, more relevant and more sustainable, without losing the human touch where it really matters.
Which technologies do you consider key to the future of telecommunications in the regions where you operate — such as 5G, optical networks, cloud services, IoT?
All of these technologies are part of one ecosystem. 5G and fibre provide the capacity and low latency; cloud enables flexible computing; and IoT connects everything from factories to homes and cities. In our markets, continued rollout of fibre and 5G, combined with cloud‑based services and secure IoT, will be critical to supporting economic growth and the digital transformation of industry and public services
What will the customer experience (customer journey) look like in the coming years — what do you plan to improve for end users?
The customer journey will be much more digital, personalised and even more seamless. Our goal is that most interactions – from onboarding to troubleshooting – can be done in a few taps in an app or online, with the same simplicity as the best digital platforms, while still offering excellent human support when needed. We are investing in self‑care apps, fully digital onboarding, smarter recommendation engines and consistent experience across all channels, so that customers feel we understand them and respect their time.
Telecommunications are beginning to expand into new sectors. Do you see room for new business models? For example, bundling services, telecom integration with digital services, fintech, entertainment, or AI?
Absolutely. The future of telecom lies precisely at these intersections. We already see strong potential in bundles that combine connectivity with entertainment, cloud, security and sometimes financial services, especially in markets where trust in telco brands is high. With AI, we can personalise these ecosystems much better and create new models – from smart homes and connected cars to digital‑first SME solutions – where telecoms are not just a utility, but a partner in everyday life and business.
