The Croatian Competition Agency (AZTN) has informed the Swedish Tele2 AB and United Group that it has approved the sale of Tele2 Croatia to the United Group, the Tele2 telecommunications company said in a press release on Thursday.

In late May 2019, the Swedish Tele2 AB agreed with United Group, a leading multi-play telecoms and media provider in Southeast Europe, on the sale of Tele2 Croatia, and their €220 million transaction was subject to assessment and approval of the market regulator.

In mid-October 2019, Tele2 celebrated 14 years of doing business on the Croatian market. In the first nine months of 2019, it increased its revenues by 8 percent to HRK 1.2 billion.

It also increased its capital investments by 128 percent to HRK 116 million. The number of customers was over a million, and the number of employees on the company’s payroll was 351 at the end of September 2019.

(€1 = HRK 7.4)