Croatian telecommunications company Hrvatski Telekom has announced its integration and merger with cable TV distributor Kabelsko Distributivni Sustav (KDS).
KDS,100 percent owned by HT Group, has no significant market share, and its business activities are limited to a narrow area of Medjimurje County.
"HT Inc. and KDS Ltd. concluded the Merger Agreement. By the said Agreement, contracting parties agreed that KDS Ltd. shall be merged into HT Inc. as the acquiring company, by transfer of all its assets and obligations to the acquiring company, without conducting the liquidation procedure of the merged company. With the day the merger is entered into the Court Register of the acquiring company, the merged company shall cease to exist. The acquiring company shall become the universal legal successor of the merged company, thus entering into all legal relationships of the merged company," said a press statement from Hrvatski Telekom.
The main activity of Hrvatski Telekom (Croatian Telecom Inc.) and other subsidiary companies is the provision of telecommunications services, design, and construction of communications networks on the Croatian territory.
The Group also provides fixed telephone line service (access and traffic through fixed telephone lines and additional fixed network), Internet services including IPTV, data transmission services (lease of lines, Metro-Ethernet, IP / MPLS, ATM) and operates GSM and UMTS mobile telephone networks.