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Bosnia's BH Telecom establishes information services unit ESP BH

Author Iskra Pavlova
Bosnia's BH Telecom establishes information services unit ESP BH Photo: All Rights Reserved

SARAJEVO (Bosnia and Herzegovina), October 15 (SeeNews) – Bosnian state-controlled BH Telecom [SAJ:BHTS] said it is establishing an information services company called ESP BH.

The move follows a June decision of the shareholders of BH Telecom to set up the new company, the telco said in a filing with the Sarajevo Stock Exchange (SASE) on Monday.

BH Telecom will hold a 45% stake in Sarajevo-based ESP BH, it said without providing the names of the remaining shareholders and details about the new company's business.

BH Telecom's shares traded 3.91% lower at 11.05 marka ($6.2/5.6 euro) on the SASE by 1130 CET on Tuesday.

The telecommunications company is 90%-owned by the government of Bosnia's Federation entity, while the remainder belongs to local closed-end investment funds.

BH Telecom is based in the capital Sarajevo and has customers mainly in the Federation, one of Bosnia's two constituent entities. The other entity is the Serb Republic.

It is the largest of three telecom operators active in Bosnia. The other two are HT Mostar, which is also active in the Federation, and Telekom Srpske which operates in the Serb Republic.

(1 euro=1.95583 marka)