m:tel not interested in buying Telenor Montenegro

17 Jul 2019

m:tel CEO Vladimir Lucic has told Montenegrin daily Pobjeda that his company is not interested in buying rival Telenor Montenegro, as owners Telekom Srbija (51%) and Telekom Srpske (49%) are primarily focused on acquisitions in Serbia. In the interview, the executive highlighted m:tel had invested more than EUR300 million (USD337 million)developing the business in Montenegro, enabling it to build a fibre-optic network that passes over 80% of households. Although the company has yet to release its H1 2019 financial results, Mr Lucic noted that revenues had risen by 5% and operating profits were up by over 10%.

Montenegro, MTEL (m:tel)