DTB advising United Group in acquisition of telecom operator Tele2 Croatia

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On Friday 31 May 2019, Tele2 AB Sweden agreed to sell its Croatian business to United Group for an enterprise value of EUR 220 million. Croatian business is one out of 3 telecom providers in Croatia with 897,000 subscribers. The transaction requires approval from relevant regulatory bodies including the Croatian Competition Agency and closing is expected before the end of 2019. United Group is a leading connectivity and media provider in South East Europe. It has the broadest network coverage in the region with 3.82 million subscribers and offers both local and international content. United Group has operations in six countries and employs around 4,400 employees. The transaction is considered to be one of the largest, if not the largest, M&A deal in Croatia this year.

DTB, alongside Krirkland & Ellis team, assisted United Group in all aspects of the transaction including M&A, regulatory and antitrust. Tele 2 Sweden was advised by Schoenherr team.