August 2 (SeeNews) - Croatia's Optima Telekom [ZSE:OPTE-R-A] said it has been given the green light by the Commercial Court in Zagreb to acquire H1 Telekom.
Optima Telekom has issued 5,886,456 new ordinary shares with a nominal value of 10 kuna apiece that will be subscribed by the shareholders of H1 Telekom, the company said in a filing with the Zagreb Stock Exchange on Monday.
You can subscribe to our M&A newsletter here
In this way, the capital of Optima Telekom increased by 58,864,560 kuna to 694,432,640 kuna, the company noted.
In June, Croatia's biggest telecommunications operator, Hrvatski Telekom [ZSE:HT-R-A], prolonged its temporary management rights over its peer Optima by three years, until July 10, 2021. Also in June, the country's antitrust regulator, AZTN, approved Optima's acquisition of H1 Telekom.
Optima Telekom was awarded a 30-year concession to provide fixed-line services in 2004. The largest shareholder of the company is Croatia's biggest lender, Zagrebacka banka, with a stake of 40.32%. Hrvatski Telekom owns a 19.02% stake.
(1 euro = 7.40667 kuna)