Business News

Telekom Shutting Down Serbian, Croatian Search Engines

Ljubljana, 18 January (STA) - Telekom Slovenije has shut down search engines in Serbia and Croatia, known under the brand name Pogodak, by launching winding down proceedings at the two companies that managed them, the company said on Tuesday.

The telecoms incumbent had decided in July to gradually shut down its search businesses in Croatia, Bosnia-Herzegovina, Serbia and Macedonia, which it acquired when it bought the Slovenian search engine firm Interseek in 2007.

"Our decision is based on cost-cutting and in-depth monitoring of the profitability of individual projects on markets where activities are low," the company said at the time.

The decision means that Telekom will keep only its search business in Slovenia. It is part of an ongoing drive for consolidation aimed at getting the stagnant firm back on track.

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