Balkan telecoms and media company United Group has acquired Croatian telecoms operator Tele2 Croatia for 220 million euros, in order to expand its presence in south-eastern Europe.
“Croatia is an attractive and important market for us and we’re pleased to have acquired Tele2 Croatia, which will enable us to diversify the group further, both into EU member countries and by strengthening the telecoms services we provide”, said United Group CEO Victoriya Boklag.
The transaction now requires approval from the relevant regulatory bodies including the Croatian Competition Agency, and its closing is expected before the end of 2019.
“We are proud of the business we have built in Croatia and especially its outstanding development in the last two years, driven by our talented employees and our valued customer base”, added Anders Nilsson, president and CEO of Tele2.
“We believe Tele2 Croatia will create even greater value for our customers going forward, as part of United Group’s family of telecom and media companies. For Tele2, this opportunity enables an increased focus on successfully executing our strategy in the remaining footprint. I would like to thank the Croatian team for their engagement and many contributions to Tele2 over the past 14 years.”
[…] According to the Financial Times, Vivacom could be valued at about 1.2 billion euros based on recent deals in the region, including PPF’s takeover of Telenor’s eastern European telecoms businesses and United Group’s 220 million-euro acquisition of Tele2 in Croatia. […]