According to local news reports, the Dutch investment fund Fiction Production Holding is taking over the management of Macedonian cable TV and internet access provider CableTEL (Macedonia). It is understood the fund has recently submitted documentation concerning its desire to acquire 100% of CableTEL, to the Macedonian Competition Agency. Privately owned CableTEL was established in Macedonia in August 2006 and today employs around 200 people. It is backed by the Bulgarian group of the same name which also has operations in Serbia, Albania and Turkey. CableTEL, acquired by British investment fund Ramford Alliance Limited in February 2007, recently finalised the take-over of Bulgarian peer Estnet in a deal that gave it a 20% share of the nationwide cable market and 50% of the Sofia cable market. CableTEL Bulgaria recently purchased 13 cable operators in Macedonia for EUR13 million (USD19.2 million).