Sweden’s Tele2 has announced the completion of the sale of its Croatian subsidiary to Amsterdam-based United Group. The EUR220 million (USD241 million) deal was first announced in June 2019 and was approved by Croatian regulators at the end of January. The sale leaves Tele2 with operations in Sweden, Lithuania, Latvia, Estonia and Germany, with its business in the Netherlands now classed as ‘discontinued’ following its merger into T-Mobile Netherlands in January 2019, though Tele2 does retain a 25% stake in the merged entity.
United Group has telecoms and pay-TV operations across south-east Europe, including Serbia, Slovenia, Bosnia & Herzegovina, Montenegro and now Croatia. In November 2019 it agreed a deal to acquire Bulgarian telco Vivacom.