Telemach buying smaller cableco Elektro Turnsek

11 Jun 2013

Slovenia’s dominant cable network operator Telemach, part of the Mid Europa Partners group, has reportedly agreed to buy smaller cable rival Elektro Turnsek, which covers the Celje area, for approximately EUR25 million (USD33 million). According to communications regulator APEK, Elektro Turnsek had the second largest share of cable TV customers in Slovenia behind Telemach at the end of 2012, although only accounting for 6.0% of viewers compared to the Telemach group’s market share of above 52%. In the fixed broadband internet market, Elektro Turnsek represented less than 2% of Slovenian subscribers at end-2012, whereas Telemach was positioned in second place in the broadband segment with 18% of subscribers, narrowly ahead of fibre/DSL provider T-2.

According to local newspaper Dnevnik, Elektro Turnsek’s current owner Janko Turnsek plans to sell the cableco, which has approximately 20,000 customers, to pay off debts. Revenues of the company remained roughly level at EUR9 million in 2012, whilst EBITDA grew by nearly a third to over EUR3 million.

Slovenia, Agency for Communications Networks & Services (AKOS), Telemach (Slovenia)