In 2005, BK Trade sold its shares to a consortium of Austrian investors (through Holdenhurst Holding headed by Martin Schlaff) and the company was renamed Mobi 63.

In 2006, a majority stake in Mobi 63 was sold (70% owned by the Government of Serbia) to the Norwegian Telenor for a sum of 1.513 billion euros.

The Norwegian company outbid such industry heavyweights as TeliaSonera, France Télécom, Deutsche Telekom, Mobilkom Austria, Orascom Telecom and Tele2.

In January 2010, Telenor Serbia acquired a landline operating licence ending the monopoly held by Telekom Srbija.

[11] In March 2018, Telenor sold its business in Southeast Europe (Bulgaria, Hungary, Montenegro and Serbia) to the investment fund PPF, for a sum of 2.8 billion euros.

The company has more than 1033 active base transceiver stations (BTS) which cover all urban and suburban areas, major highway routes, and tourist centers.

Telenor Serbia 3G network supports the following technologies in over 250 cities throughout Serbia, as well as all major roads with the following maximum theoretical speeds: In the middle of 2010, Telenor started a project of recovery of the existing network (NGN transition), as the main precondition for the introduction of next-generation mobile telephony (4G) and supporting advanced services.

In 2010, Ratel delivered Telenor the second license for fixed telephony, which officially abolished the monopoly of Telekom Serbia in this field.

[14] To do so, company started a highly controversial cooperation with one of its strongest competitors, a state-owned "Telekom Srbija", who leased its own backbone structure to "Telenor".

On 17 June 2011, Serbian Interior Minister Ivica Dacic and Telenor CEO Kjell Morten - Johnsen signed an agreement on the application of filters to block access to illegal websites with elements of sexual abuse of children and presented to the public details of the project.

Serbian customers are able to listen in online and offline mode to a range of over 25 million tracks by local and foreign artists.