United Group renames Tele2 Hrvatska to Telemach Hrvatska, will invest 230 million euros
ZAGREB (Croatia), November 4 (SeeNews) – United Group, a multi-play provider of telecommunications and media services, said it will invest 230 million euros ($270 million) in its Tele2 Hrvatska unit, which it has renamed Telemach Hrvatska.
In the next five years, United Group plans to spend up to 130 million euros on the mobile network of Telemacha Hrvatska, with a focus on expanding network coverage, improving overall quality and creating a 5G mobile network from 2021, the press release states. late on Tuesday.
In addition, United Group will also invest up to 100 million euros in the construction of a state-of-the-art optical network that can deliver ultra-fast broadband access at speeds of up to 10 gigabits to business and private subscribers.
“With this investment, Telemach Hrvatska will soon provide the best quality mobile network of the future and new mobile services that will come with the best fixed network available in Croatia,” Telemach Hrvatska CEO Viktor Pavlinić said in a press release.
In June 2019, United Group agreed to buy the Croatian operations of the Swedish telecommunications group Tele2 for EUR 220 million. The deal was concluded in March.
United Group announced on Tuesday that with the latest announced investments, it will become one of the largest investors in Croatia.
“Our investment shows United Group’s commitment to the Croatian market and to further strengthening our leading position in the region. Operating in the telecommunications and media sector, as well as in e-commerce, our platform brings together the leading operators and the best content producers in Southeast Europe,” said United’s executive director Groupa Victoriya Boklag in a press release.
Telemach Hrvatska will continue to offer products and services under the Tele2 brand until the first half of 2021, when a new visual identity will be presented.
In Croatia, in a market of about 4.3 million people, Telemach Hrvatska competes with the local branch of A1 Telekom Austria Group – A1 Hrvatska, and the wireless branch of Hrvatski Telekom, which is controlled by Deutsche Telekom.
($=0.8531 euros)