Telekom Austria has agreed to acquire a controlling stake in the alternative fixed-line telco Metronet telekomunikacije through its Croatian subsidiary Vipnet.
The sellers include Croatian corporations, financial institutions and private individuals, among them Quaestus Private Equity Fund.
Metronet offers data, voice, managed IT and cloud services to around 4,300 corporate customers, who generated approximately 90% of total revenues in 2015. It is present in 66 cities, reaching around 85% of all corporate customers in Croatia, and operates on a fibre network.
In 2015, the company had revenues and an EBITDA of around €28 million and €12 million respectively.
Commenting on the deal, the value of which has not been disclosed, Alejandro Plater, CEO & COO Telekom Austria, said: “The acquisition of Metronet strengthens the group’s Croatian business, where it has been offering convergent services since 2011”.
The deal will be financed via Telekom Austria’s existing cash flow. Subject to merger control clearance, it is expected to close in Q1 2017.