Croatians buy 76.5% of Crnogorski Telekom for EUR 123.5 million

Hrvatski Telekom (HT) bought 76.53% of Crnogorski Telekom stock for EUR 123.5 million from Magyar Telekom today. The transaction is expected to be finalized by the end of January 2017.

As Vecernji list reports, this is HT's biggest acquisition so far, i.e. the first big step towards the realization of the expansion strategy and positioning the company as the leading telecommunications player in the region.

The acquisition will provide HT, its suppliers and other companies from the HT group with access to the Montenegrin market, thereby promoting and creating the conditions for the export of Croatian goods and services to Montenegro, they say at HT.

– The expansion of HT, which directly and indirectly generates more than 3% of the Croatian GDP, will, in the final score, have a positive impact on the economic activity, employment and tax revenues in Croatia – Vecernji list adds.

Crnogorski Telekom is the largest telecommunications company in Montenegro, providing a complete range of landline and mobile services. In the first nine months of 2016, the company had revenues of EUR 69.4 million. At the end of the third quarter, they had 368.600 mobile users and were the second placed participant in the market, with 32% of the user pool in mobile phone services, where their biggest competitors are Telenor and M:Tel.

With 140,300 landline users, Crnogorski Telekom has a 93.6% share in the landline phone market. It also has 73,100 broadband internet users, as well as 60,100 IPTV users. In late 2015, there were 588 employees in the company, the article adds.

Crnogorski Telekom a.d. Podgorica

Hrvatski Telekom d.d. Zagreb, Hrvatska

Crnogorski Telekom

Hrvatski Telekom

Magyar Telekom

broadband internet

IPTV