United Group, rumoured to be looking to divest its opcos in Bosnia and Herzegovina and Montenegro, has finally confirmed it has agreed Bosnian telecommunications company BH Telecom to purchase the businesses, according to a statement published by BH Telecom.
The deal is pending regulatory approval in both markets and, when granted, would give BH Telecom a majority control over of the Bosnian market. The acquisition amount has not yet been disclosed.
United Group's businesses in the two non-EU countries include fixed line operators Telemach, TV and supporting passive infrastructure.
"This transition reflects our commitment to creating lasting value for our partners and customers, and we are proud to have built a company that has set high standards in the telecommunications industry in Bosnia and Herzegovina and Montenegro. We look forward to BH Telecom continuing this and bringing even greater benefits to users and the market, " United Group's CEO Victoriya Boklag commented.
United Group has been divesting from non-strategic assests, with one notable transaction being the the spin-off of its passive infarstructure in Bulgaria, Croatia and Slovenia and selling it to TAWAL.
The Western Balkan markets deal will provide much needed capital for the group and will allow it to focus on and support strategic activities that align with its goals. The group recently announced it will invest EUR120 mn to build three solar power plants and a wind farm in Bulgaria with a combined capacity of 124 MW to be operational in 2027.
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