Slovenia's Telekom Slovenija said it has sold its 45% share in Macedonian peer one.Vip for €120 million to Telekom Austria.
With this transaction, Telekom Slovenija has withdrawn in full from the ownership structure of the Skopje-based telecommunications company, while Telekom Austria has become the sole owner.
In 2014, Telekom Austria and Telekom Slovenija agreed on a merger of their Macedonian subsidiaries Vip Operator and One. After the merger, Telekom Austria held 55 percent of the merged entity, Telekom Slovenija the remaining 45 percent. The deal included until 2018 also a call and a put option for the exit of Telekom Slovenija.
The agreement also included a call and put option for Telekom Slovenija, which could be called in three years following the conclusion of the merger.
