ZAGREB (Croatia), Nov 4 (SeeNews) – United Group, a multi-play telecommunications and media service provider, has said it will invest 230m euros ($ 270m) in its Tele2 Croatia unit, which it has renamed Telemach Croatia.
In the next five years, United Group plans to spend up to 130 million euros on Telemach Croatia’s mobile network, with an emphasis on expanding network coverage, improving overall quality and creating a 5G mobile network from 2021, according to a statement late Tuesday.
In addition, United Group will also invest up to € 100 million in building a state-of-the-art optical network capable of delivering ultra-fast broadband access at speeds of up to 10 gigabits to business and residential subscribers.
“With this investment, Telemach Croatia will soon provide the best of the future quality of the mobile network and new mobile services that will come together with the best fixed network available in Croatia,” Telemach Croatia CEO Viktor Pavlinic said in a statement.
In June 2019, United Group agreed to buy the Croatian business of the Swedish telecommunications group Tele2 for 220 million euros. The deal was concluded in March.
United Group announced on Tuesday that the latest announced investments will make it one of the largest investors in Croatia.
“Our investment demonstrates United Group’s commitment to the Croatian market and further strengthening its leading position in the region. Operating in both the telecommunications and media sectors, as well as e-commerce, our platform combines leading operators and top content producers in Southeast Europe,” said Victoria Boklag, Executive director of United Group.
Telemach Croatia will continue to offer products and services under the Tele2 brand until the first half of 2021, when a new visual identity will be presented.
In Croatia, with a market of around 4.3 million people, Telemach Croatia competes with the local branch of A1 Telekom Austria Group – A1 Croatia and the wireless branch of Hrvatski Telekom, which controls Deutsche Telekom.
($ = 0.8531 euros)