Telekom Austria Group and Telekom Slovenije Group have announced that their respective subsidiaries Vip Operator and One, both operating in the Republic of Macedonia, have signed a merger agreement, which will be pre-registered in the Central Registry. The transaction is subject to approval by the relevant authorities and is expected to close in the first quarter of 2015. Moreover, Telekom Austria Group and Telekom Slovenije Group jointly submitted a notification for concentration to the Macedonian Commission for Protection of Competition related to the intended merger.
The merger was first announced in October. Telekom Austria Group will hold 55 percent and have sole control over the newly created entity, whereas Telekom Slovenije Group will hold 45 percent. The agreement also includes call and put options for the exit of Telekom Slovenije Group from the joint company within three years of the closing of the merger.
