Release of 22.10.2014
- Due diligence expected by mid-November and further information to follow then
- Macedonia one out of five convergent markets since acquisition of blizoo
Today Telekom Austria Group announces that Telekom Austria Group and Telekom Slovenije Group have agreed to merge their subsidiaries Vip Operator and One, both operating in the Republic of Macedonia.
Telekom Austria Group will hold 55% and have sole control over the newly created entity, whereas Telekom Slovenije will hold 45%. The agreement also includes call and put options for the exit of Telekom Slovenije from the joint venture within three years from closing of the merger. The transaction is inter alia subject to confirmatory due diligence of One, expected to be finalized by mid-November when further information will be provided. Furthermore, merger control clearance and subsequently Closing is expected for Q1 2015.
One is the third largest mobile network operator in the Republic of Macedonia with a market share of 23.6% and a customer base of about 528,000 customers as of year-end 2013*. In 2013, One achieved revenues and EBITDA of approximately EUR 75.5 million and EUR 14.4 million respectively.
Telekom Austria Group has been offering mobile services in the Republic of Macedonia via its subsidiary Vip Operator since 2007. Having a market share of 28.1% and approximately 630,000 customers by year-end 2013 it is the second largest operator in the country*. Revenues amounted to EUR 65 million and EBITDA to EUR 14.7 million. With the acquisition of blizoo Macedonia in July 2014, Telekom Austria Group now also offers fixed-line services in the Macedonian market. Local customers are reaping the benefits of comprehensive TV, Internet and telephony services from a single source at.
*data based on the report on market development in Q4/2013 by the Macedonian Agency for Electronic Communications (AEC)