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Sweden - Southeast Europe News Site


to the news site of the Chamber of Commerce for Sweden - Southeast Europe in cooperation with Business Sweden and Governments and Organisations in SEE.

Norwegians take over from the Greeks in Bulgaria

Bulgaria Posted on Fri, April 26, 2013 21:10:45

Just minutes
agoTelenor announced that they have signed an agreement with Greek OTE to
acquire Bulgarian mobile operator Globul for a total amount of EUR 717 million
on a cash and debt free basis. Globul is the second largest mobile operator in
Bulgaria with 4.5 million subscribers and a market share of 36 percent. The
transaction also includes Germanos Bulgaria, the leading telecom retailer in
the country operationally integrated with Globul.

In Central and Eastern Europe, Telenor
Group is currently present in Hungary, Serbia and Montenegro. The company is a
leader in terms of mobile revenue share in Serbia and Montenegro. “Our entrance
into the Bulgarian market enhances the potential for cross-border co-operation
and increased efficiency that our customers, businesses and the Telenor Group
as a whole will benefit from. We also see a potential in expansion of mobile
data and internet-based services in the market,” said Kjell-Morten Johnsen,
Executive Vice-President and Head of region Europe.

Globul has been present in Bulgaria
since 2001. At the end of 2012, the company reported 4.5 million subscribers
and a 36 percent subscriber market share. In 2012, Globul and Germanos Bulgaria
generated revenues of EUR 378 million and EBITDA of EUR 135 million. The
transaction is subject to relevant merger control approvals and is expected to
be finalised in Q3 2013.No further comments will be given until the press and
analyst conference on Monday, 29 April 2013 at 0900 CET.

Telekom Srbija reports 50% drop in net profit in 2012

Serbia Posted on Fri, April 26, 2013 15:10:04

Telekom Srbija ended 2012 with a net profit of RSD 11.25 billion, down nearly 50 percent from a year earlier, primarily as a result of increased financial expenses, which jumped nearly four times to RSD 12.5 billion. The financial result is mainly a consequence of long-term liabilities, which increased from RSD 17.3 billion to RSD 46.7 billion, due to the raising of the loan for the purchase of its own shares conducted early last year. Revenue amounted to RSD 88.5 billion, up by 1.4 percent from 2011. Business revenues grew to RSD 19.8 billion. Telekom Srbija has yet to announce full consolidated financial statements. ( April 24)