The Telekom Austria Group (VSE: TKA, OTC US: TKAGY) announces that it has agreed to acquire 100% of the shares in the Belarusian operators Atlant Telecom and its subsidiary TeleSet. The sellers are the private equity firm ZUBR Capital as well as the European Bank for Reconstruction and Development (EBRD).
Atlant Telecom and TeleSet are the leading privately owned fixed-line operators in Belarus offering fixed-line broadband, IPTV and cable TV, as well as a video and audio library. As of year-end 2015, Atlant Telecom and TeleSet had approximately 125,700 fixed broadband and 46,000 cable TV customers.
In 2015, Atlant Telecom and TeleSet generated revenues and an EBITDA of approximately EUR 16 mn and EUR 4 mn respectively.
The acquisition of Atlant Telecom and TeleSet is a further step in Telekom Austria Group’s convergence strategy. It allows Telekom Austria Group to develop its Belarusian subsidiary velcom from a mobile-only player into a fully converged operator.
Telekom Austria Group will finance the transaction via existing cash flow; the closing is expected in the next days.
Source: Telekom Austria