July 16 (SeeNews) - Croatia's competition regulator, AZTN, said on Monday it has approved the sale of the electricity supply business of telecommunications operator Hrvatski Telekom (HT) [ZSE:HT-R-A] to the local subsidiary of German power utility RWE.
The transaction will primarily have an effect on the electricity supply market in Croatia where both parties are present, AZTN said in a statement.
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The market share of RWE on the Croatian market will stand at between 5% and 10% after the completion of the deal, which will not have a negative impact on competition, AZTN said.
Hrvatski Telekom said in June it signed an agreement to sell its electricity business to the local arm of RWE.
The Croatian energy regulator, HERA, granted a licence to Hrvatski Telekom to supply electricity in October 2013.