Telekom Austria Group agrees to acquire fixed service provider Metronet in Croatia
Dec 9, 2016
Vienna, 08 December 2016
The Telekom Austria Group (VSE: TKA, OTC US: TKAGY) announces that it has agreed to acquire a controlling stake in Metronet telekomunikacije via its Croatian subsidiary Vipnet. The sellers comprise Croatian corporations, financial institutions and private individuals, including Quaestus Private Equity Fund.
Metronet is a leading alternative fixed business solutions provider in Croatia and delivers a diverse product offering, focussed on delivering services to the business segment. Metronet offers data, voice, managed IT and cloud services to its approximately 4,300 corporate customers, who generated approximately 90% of total revenues in 2015. The company is present in 66 cities, thereby reaching approximately 85% of all corporate customers in Croatia and operates on a fibre network. In 2015, Metronet generated revenues and an EBITDA of approximately EUR 28 mn and EUR 12 mn respectively.
The acquisition of Metronet strengthens the Group's Croatian business, where it has been offering convergent services since 2011.
Telekom Austria Group will finance the transaction via its existing cash flow; the closing is expected for Q1 2017. The transaction is subject to merger control clearance. The pricing of the transaction remains undisclosed.
Sign up to receive TelecomTV's top news and videos, plus exclusive subscriber-only content direct to your inbox.