November 27 (SeeNews) - Croatia's biggest telecommunications operator, Hrvatski Telekom [ZSE:HT-R-A] said on Tuesday that it has signed an agreement for the purchase of HP Produkcija, the owner of pay-TV provider Evo TV, for an undisclosed price.
Hrvatski Telekom will acquire the entire capital of HP Produkcija from postal services operator Hrvatska Posta, the telco said in a filing to the Zagreb Stock Exchange.
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The conclusion of the transaction is subject to regulatory approvals and its finalisation is expected by the end of 2018, Hrvatski Telekom said.
"With the closing of the acquisition of Evo TV, Hrvatski Telekom would improve its position in the growing pay-TV market, thereby further expanding the range of its services. Due to the mode of operating and the availability of Evo TV service, we shall provide quality programme content to our customers, available in every corner of Croatia," said Davor Tomaskovic, president of the management board of Hrvatski Telekom.
Evo TV operates as of 2012, and its signal currently covers 94% of Croatian households. As of June 30, 2018, Evo TV served 71,195 customers and had 30 employees. The pay-TV provider recorded revenues of 57 million kuna ($8.7 million/7.7 million euro) in 2017 and had a market share of 6% at the end of last year.
(1 euro = 7.43114 kuna)