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TAG completes Atlant Telecom, TeleSet takeover in Belarus

1 Dec 2016

Telekom Austria Group (TAG) has announced that it has acquired 100% of Belarusian fixed network operator Atlant Telecom and its subsidiary TeleSet from the private equity company ZUBR Capital and the European Bank for Reconstruction and Development (EBRD). No financial details were disclosed.

Privately-owned Atlant Telecom and its TeleSet unit are key players in the domestic market, providing fixed broadband, IPTV and cable TV services, as well as access to its video and music database. The pair had a combined subscriber base of approximately 125,700 broadband and 46,000 cable TV customers at the end of 2015, and posted full-year revenues of EUR16 million (USD17 million) and EBITDA of EUR4 million. TAG says it will finance the purchase from its free cash flow, noting that it represents a further step in the convergence strategy of the Telekom Austria Group and enables the company to develop its Belarusian subsidiary velcom from a pure mobile service provider to a fully integrated operator. The transaction is expected to close in the next few days.

Belarus, A1 Telekom Austria Group

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