OR Telemach of Sloveniaa member of United Group of the leading telecommunications and media provider in Southeast Europe and parent company of Nova, has signed a share purchase agreement with Garnol to acquire shares of T-2, securing at least 98.06% of the company. The transaction will be completed after receiving the necessary approvals. Customers are expected to benefit from next-generation technologies, a wider range of high-quality services, content and commercial packages.

As stated in a related announcement, through this agreement, Telemach Slovenia announced the initial acquisition of a non-controlling interest of 24.9% in the share capital of T-2. Upon successful approval by the relevant regulatory authorities, Telemach plans to acquire at least 98.06% of the shares of T-2, in accordance with the terms of the signed share purchase agreement.

The transaction is expected to result in positive outlook for T-2strengthening its capacity for additional investments in advanced telecommunications infrastructure and technologies, offering innovative products and services to consumers. The integration of Telemach and T-2 will lead to the creation of an advanced optical fiber network, improved mobile services and products with unlimited usage, contributing to the realization of national goals regarding 5G network connectivity and coverage.

Tomislav Čizmić, CEO of Telemach Slovenia, says: “Today’s agreement secures a competitive future for T-2, which was facing bankruptcy. This acquisition strengthens our capabilities for further investments in the most modern infrastructure of mobile and fixed telecommunications networks, in advanced technologies and with innovative products and services. We believe that the integration of the industry is crucial to maintain competitiveness in the Slovenian market and to promote digitalization and connectivity, which will strengthen the Slovenian economy in the long term.”

For his part, Jurij Krč, main shareholder of Garnol and Procurator in T-2, points out: “T-2 is an excellent and successful company that has been the flagship of the technological development of the Slovenian telecommunications market for the past 20 years. With this transaction, T-2 will continue to successfully develop its momentum in the Slovenian market. The solution Telemach provides is vital to our employees, customers and business partners. We believe that this partnership will bring positive changes to the telecommunications market and contribute to an even better user experience for all our subscribers.”

The transaction, in addition to the integration of the mobile and fixed telephony networks of the two companies, will result in an amalgamation of know-how, which will benefit Slovenian subscribers and the country’s national economy, he concludes