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Bosnia's Mtel acquires cable operator Elta-Kabel

Bosnia's Mtel acquires cable operator Elta-Kabel Photo: All Rights Reserved

BANJA LUKA (Bosnia and Herzegovina), September 5 (SeeNews) - Bosnia’s Mtel a.d. Banja Luka, the mobile arm of Telekom Srpske [BANJ:TLKM-R-A], acquired 100% of local cable operator Elta-Kabel, Mtel said on Thursday.

Following the completion of the deal, and in line with its business strategy, Mtel's investments this year will add up to 150 million euro ($165.9 million), it said in a press release.

Telekom Srpske is the second-largest telecommunications company in Bosnia. It is majority-owned by Serbian state-controlled Telekom Srbija and has clients mainly in Bosnia’s Serb Republic.

Elta-Kabel is the leading cable operator in the Serb Republic. It also provides Internet, fixed and mobile telephony services.

The Serb Republic is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Federation.

Mtel recently acquired another local telecommunication company - Bijeljina-based Telrad Net, as well as the local arm of Telekom Slovenije - Banja Luka-based Blicnet.

Bosnia, a country of some 3.5 million people, has two more major telecommunication companies, both state-controlled - HT Mostar and BH Telecom.

($ = 0.9042 euro)