Hrvatski Telekom acquires Croatia's evotv

Hrvatski Telekom concluded the contract on purchase of evotv

Hrvatski Telekom (Reuters: HT.ZA; Bloomberg: HTRA CZ), Croatia’s leading telecommunications provider, announces that it has signed a Purchase Agreement with the company HP-Hrvatska pošta d.d. on acquisition of 100 percent stake in the company HP Produkcija d.o.o., provider of evotv service. Conclusion of this transaction is subject to regulatory approvals and its finalization is expected by the end of 2018.

Evotv is a simple service at the Croatian Pay TV market, enabled by using a digital DVB-T signal which can be received through the existing antenna. Evotv operates as of 2012, and its signal currently covers 94% of Croatian households.

As at 30 June 2018, evotv served 71,195 customers and had 30 employees on the same date. Revenues generated for the year 2017 amounted to HRK 57 million, representing a market share of 6%.

Davor Tomašković, President of the Management Board of Hrvatski Telekom, stated: “With the closing of the acquisition of evotv, Hrvatski Telekom would improve its position in the growing Pay TV market, thereby further expanding the range of its services. Due to the mode of operating and the availability of evotv service, we shall provide quality program content to our customers, available in every corner of Croatia. And to evotv customers, HT shall also offer them viewing the best television programs in the future.”