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BELGRADE (Serbia), November 19 (SeeNews) - Serbia's competition authority said it has cleared the partial takeover of media content distributer Polaris Media by state-owned telecom Telekom Srbija.
The regulator found that the acquisition would not significantly impact competition, as the object of the agreement is not the entire Polaris company, but only part of its operations, it said in a notice published on its website last month.
The current customers of the Nis-based company will switch to Telekom Srbija services only if they opt to do so.
In September, Telekom and Polaris entered into an agreement to migrate some of the latter's customers using its DTH services to the telecom's mSat TV service. The financial terms of the deal were not revealed.
Polaris offers media content distribution services using the domestic satellite network. It is majority-owned by Bulgarian citizen, Maksim Veselinov Zayakov, who controls 99.98% of its share capital. The remaining interest is held by domestic citizens.
In 2018, Polaris generated revenue of around 240 million dinars ($ 2.26 million/2.04 million euro).
($ = 0.9025 euro)