On.Net receives cash injection from Telekom Slovenije

10 Dec 2010

Slovenian telecoms operator Telekom Slovenije has revealed plans to inject EUR25 million (USD33 million) into its Macedonian operation On.Net in two tranches – one of EUR15 million and one of EUR10 million – by the end of the year. The Slovenian parent group clams it has already provided EUR200 million worth of capital injections for the Macedonian unit.

TeleGeography’s GlobalComms Database writes that in March 2006 Telekom Slovenije completed the acquisition of a 76% stake in On.Net for USD5.73 million. In November 2009 the Slovenian owner merged its three Macedonian business units On.Net, Cosmofon and retail chain Germanos into one company (registered as On.Net d.o.o. Skopje) under the ‘ONE’ brand, as part of the parent group’s strategy of improving its presence in the country. As of November 2010 Telekom Slovenije’s stake in ONE stood at 83.38%, but the Slovenian firm says it has acquired an additional 11.44% stake in ONE, previously owned by Siol BV in liquidation, Netherlands, which is itself wholly owned by TS.

North Macedonia