Tele2 sells up to United Group in Croatia

Tele2 sells up to United Group in Croatia

Tele2 has completed the sale of its Croatian unit to the United Group for EUR220 million (USD241 million).

The deal was made public in June 2019, with Croatian regulators giving it the green light at the end of January this year. Following the divestment, Tele2 retains a presence in Eastern Europe via its units in Estonia, Latvia and Lithuania.

Conversely, United Group is building up its presence in the region, having signed an acquisition deal for Bulgaria’s Vivacom in November 2019. In addition to this, it operates telecom and pay-TV units in Bosnia & Herzegovina, Montenegro, Serbia and Slovenia – in addition to its newest market of Croatia.