Croatia’s Competition Agency (Agencija za zastitu trzisnog natjecanja, AZTN) has cleared the acquisition by fixed and mobile operator VIPnet of a controlling stake in business services provider Metronet. The Agency said that deal would produce benefits for consumers and lead to a wider deployment of fixed network infrastructure. It said it received no comments in a public consultation on the issue. The deal is expected to close during the first quarter.
Telekom Austria subsidiary VIPnet announced its move to take a controlling interest in Metronet in December 2016; the financial details have not been disclosed. The stake is being bought from Croatian corporations, financial institutions and private individuals, including Quaestus Private Equity Fund. Last year Telekom Austria acquired another local ISP, Amis, which also has operations in Slovenia, with the Croatian unit subsequently merged into VIPnet – though it continues to offer services under the Amis brand.
Metronet offers data, voice, managed IT and cloud services to approximately 4,300 corporate customers and claims a presence in 66 Croatian cities. In 2015 the company generated revenues of approximately EUR28 million (USD31 million) and EBITDA of EUR12 million.