Tele2 has agreed to sell its Croatian unit for EUR 220 million to United Group, a cable and mobile operator in Southeast Europe. This is United's first acquisition in the Croatian telecoms market and marks Tele2's exit from the region and withdrawal to the Nordic and Baltic markets.
The transaction requires approval from relevant regulatory bodies including the Croatian Competition Agency and closing is expected before the end of 2019. After closing, Tele2 said its board of directors will decide on the use of proceeds.
This marks the first transaction since international investment firm BC Partners acquired United Group in March. The company is already active in several neighbouring countries and its TV channels are available in Croatia. The takeover gives it nearly 900,000 customers on the mobile market, good for third place after HT and A1.
