Croatian business-focused ISP Metronet has confirmed that Telekom Austria’s local subsidiary VIPnet has completed its acquisition of a 95.43% stake. VIPnet announced its intention to buy a controlling interest in alternative operator Metronet in December last year, and the move was given the green light by the country’s Competition Agency (Agencija za zastitu trzisnog natjecanja, AZTN) towards the end of last month.
VIPnet’s stake was bought from Croatian corporations, financial institutions and private individuals, including Quaestus Private Equity Fund. 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.