Ljubljana, 09 July (STA) - Slovenia's biggest cable operator Telemach Slovenije has acquired Kabel TV, a company with a 4.6% market share in cable television in Slovenia, Telemach said in a statement on Tuesday.
The acquisition of Kabel TV, which has a foothold mostly in north-eastern Slovenia and generated revenues of EUR 3.7m in 2012, will solidify Telemach's position as the leading cable provider and one of the biggest telecommunications companies in the country.
The company, which trails only national telco Telekom Slovenije in the area of broadband internet and digital telephony, generated revenues of EUR 65.6m in 2012. Its net profit stood at EUR 8.6m, a doubling on the year before.
In April, Telemach became part of the United Group, which has brought together a number of telecommunications companies in the territory of the former Yugoslavia.
The regional telco group, which is in majority ownership of investment fund Mid Europa Partners and the European Bank for Reconstruction and Development (EBRD), includes the biggest cable operators in Serbia and Bosnia-Herzegovina, SBB Srbija and Telemach B&H, the region's biggest satellite platform Total TV and some 15 small operators.
Business daily Finance recently reported that Mid Europa Partners was seeking a buyer for United Group, whose value is estimated at EUR 1.2bn.