Tele2 ups stake in Croatian unit to 93%

9 Oct 2007

Swedish telecoms group Tele2 has increased its stake in its Croatian mobile subsidiary from 51% to 93% via a HRK120 million (USD23 million) recapitalisation, Croatia Today reports. As a result of Tele2’s capital investment, a stake belonging to Croatian private equity fund Quaestus has reduced from 49% to 7%. Quaestus welcomed the recapitalisation, saying that additional assets would enable further development of Tele2 as the third mobile operator in Croatia. Launched commercially in October 2005, Tele2 Croatia has signed up over 400,000 GSM subscribers, and recently claimed to have built out its network to cover 80% of the country’s territory.

Croatia, Tele2, Tele2 Croatia