Tele2 has been informed by Croatia’s competition authority that its proposed sale of its local unit will receive formal clearance within the next month.
The Croatian Competition Agency has been investigating the proposed acquisition of Tele2 Croatia by international media conglomerate United Group for €220 million, and now appears ready to grant its approval.
First announced in the middle of 2019, the deal was expected to go through before year was out. It did not require scrutiny from EU regulators but was instead submitted in November to the Croatian authorities for a second-stage investigation.
When the deal was first announced, United Group CEO Victoriya Boklag said: “We have a great track record in acquiring and integrating mobile businesses in the region, as we did with Tusmobil in Slovenia, and we are excited about the new opportunities we see with Tele2 Croatia.”
United Group already has an active unit in Croatia – the broadcaster N1 – and is present in several other markets in southeast Europe. Tele2 meanwhile is streamlining its operations by divesting its holdings in certain markets. Last year, it sold its share of its joint venture with Kazakhtelecom in Kazakhstan.
