B.net bought by VIPnet

9 Jun 2011

Telekom Austria Group has signed a purchasing agreement for the acquisition of a 100% stake in B.net, the largest cable operator in Croatia, via the Austrian group’s local mobile network operating subsidiary VIPnet, for EUR93 million (USD136 million). Hannes Ametsreiter, CEO of Telekom Austria Group, said: ‘Fixed-to-mobile convergence has turned into a fundamental business driver in the telecommunications industry and represents an important strategic pillar for the Telekom Austria Group. The acquisition of a cable operator will enable VIPnet to profit from the expected strong growth of fixed broadband, TV and convergent products and to position itself as a convergent service provider on the Croatian market.’ Triple-play TV, broadband and telephony operator B.net’s cable network infrastructure passes around 266,000 homes, of which 119,900 are connected. The purchase price will be paid upon closing of the transaction, which is expected in the second half of 2011, subject to approval by the Croatian competition authority.

Croatia, A1 Hrvatska (formerly VIPnet/B.net), A1 Telekom Austria Group, B.net Croatia