The deal should be closed in the near future, according to the company’s press release.
As it turned out the day before, Belarus Internet provider “Atlant Telecom” and its subsidiary “TeleSet” will be absorbed by the holding company “Telecom Austria Group”, which owns the operator Velcom. In the near future, the purchase of one hundred percent of the company’s authorized fund will be closed.
For the time being, the provider “Atlant Telecom” and “TeleSet” are owned by the investment company “ZUBR Capital”, as well as the European Bank for Reconstruction and Development.
Today, “Atlant Telecom” and “TeleSet” are engaged in a large-scale provision of broadband Internet access and cable TV services. The companies’ portfolio accounts for 126 thousand subscribers connected to the Internet, while the cable TV is provided to 49 thousand households.
“In 2015, “Atlant Telecom” obtained EUR 16 million of operating revenue and over four million euros of EBITDA. The merger with Velcom will result in appearance of a new major player in the Belarus telecom market”, as the company’s press release stated.
