May 9 (SeeNews) - Croatia's anti-trust regulator, AZTN, said it has approved the sale of TV broadcaster Nova TV to Slovenia Broadband, a subsidiary of multi-play operator United Group.
AZTN said in a statement on Tuesday that the acquisition will not have a significant effect on competition, especially since it is not creating a new or strengthening an existing dominant market position.
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In March, Croatia's regulator for electronic media said it has inanimously approved the concentration.
In November, Croatia's regulator barred the sale arguing that the transaction would run counter to the country's laws, because, at the time, United Group also ran Total TV in Croatia. However, in January, United Group announced it is selling Total TV BV, the Dutch parent company of Totalna Televizija doo, to V-Investment Holdings B.V.
Croatia's regulator for electronic media explained in March that since Total TV is no longer tied to United Group, the acquisition of Nova TV is in line with the country's electronic media act.
In July, United Group, backed by US investment firm KKR and the European Bank for Reconstruction and Development (EBRD), said it had agreed to acquire the Croatian and Slovenian media portfolio of Central European Media Enterprises (CME), including broadcaster Nova TV.
CME is a media and entertainment company operating leading businesses in six Central and Eastern European markets with an aggregate population of approximately 50 million people. It currently broadcasts 36 television channels in Bulgaria, Croatia, the Czech Republic, Romania, the Slovak Republic and Slovenia.
Slovenia Broadband is an international holding company that manages various companies in Central and Eastern Europe.