Sweden-based Tele2 has announced the sale of its business in Croatia as the group continues to narrow its focus on its operations in Scandinavia and the Baltics. Tele2 Croatia is being acquired by Amsterdam-based United Group for EUR220 million (USD246 million). The transaction requires approval from relevant regulatory bodies, including the Croatian Competition Agency, with the deal expected to be finalised by the end of this year.
According to TeleGeography’s GlobalComms Database, Tele2 Croatia is the smallest of the country’s three active cellcos, with 894,000 subscribers and 18% of the overall market at the end of March 2019. United Group has telecoms and pay-TV operations in six countries in south-eastern Europe.