January 30 (SeeNews) - Croatia's anti-trust regulator, AZTN, said it has approved the acquisition of alternative telecommunications operator Metronet Telekomunikacije by telco Vipnet, a unit of Telekom Austria Group.
The concentration will affect the fixed line network on the territory of Croatia by intensifying market competition, AZTN said in a statement on Friday.
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The deal will result in expansion of Vipnet's fixed-telephony network infrastructure to an additional thirty towns to the benefit of all end-consumers, AZTN said.
In December, Vipnet said it has signed a deal to purchase a controlling stake in Metronet Telekomunikacije. The parties to the deal said at the time they expect the sale process to be finished by the end of the first quarter of 2017.
According to bourse data, Metronet's largest shareholders are brokerage HITA with a 39.25% share, Addiko Bank, former Hypo Bank, with 24.05%, and Zagreb-based insurer Croatia Osiguranje with 10.54%.
Metronet, founded in 2005, said in September 2015 it would start seeking an advisor for a possible sale of equity.
In 2014, Metronet successfully completed a pre-bankruptcy settlement procedure, obliging to list its shares on the Zagreb Stock Exchange.