m:tel reportedly gains conditional approval for Elta-Kabel takeover

13 Aug 2019

Telekom Srbija-backed Telekom Srpske, which trades under the m:tel banner in Bosnia and Herzegovina, has reportedly gained conditional approval for its proposed takeover of local cableco Elta-Kabel, according to SEEbiz. The report claims that the Council of Competition (Konkurencijsko vijece) has given the go-ahead to the deal, though it was noted that a statement issued by the body stopped short of clarifying the conditions underpinning the approval.

As previously reported by CommsUpdate, last month Predrag Kovac, director general of the Communications Regulatory Agency (Regulatorna agencija za komunikacije, RAK) in Bosnia and Herzegovina, had claimed that the takeover of Elta-Kabel by m:tel had been rejected by the Council of Competition. Such comments prompted m:tel officials to swiftly argue that the review was still ongoing, with a spokesperson for the telco saying: ‘We do not understand why the RAK’s director made false claims … and went on to comment on a legal process that is not finished, and for which he is not at all competent [to judge].’

If m:tel does complete the purchase of Elta-Kabel it would mark the latest in a line of recent takeovers; the telco confirmed in February 2019 that it had finalised the acquisitions of both Blicnet and Telrad Net.

Bosnia and Herzegovina , Elta-Kabel (Bosnia), Telekom Srpske (m:tel)

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