Hrvatski Telekom initiates Iskon integrationTuesday, October 3rd, 2023
Notice On The Intended Merger Of The Company Iskon Internet Into Croatian Telecom
Croatian Telecom Inc. [Hrvatski Telekom d.d.] (Reuters: HT.ZA; Bloomberg: HT CZ), Croatia’s leading telecommunications provider, continues with its operating model transformation, and following the obtained corporate approvals, the merger procedure of the company Iskon Internet Inc. into Croatian Telecom Inc., as the the acquiring company, has been initiated. The targeted date for the merger to enter into force is 1 January 2024, whereby it is foreseen that Iskon Internet Inc. shall continue to operate as a separate brand within Croatian Telecom Inc.
Iskon Internet Inc. is a joint stock company 100% owned by HT holding Ltd., whose 100% owner is Croatian Telecom Inc. An Agreement on the transfer of Iskon Internet Inc. shares has been concluded between HT holding Ltd. as transferor company and Croatian Telecom Inc. as transferee company, which is a prerequisite for the merger procedure to be conducted by applying the provisions of Article 531 of the Companies Act, regulating merger in special cases (“simple” merger). Currently the entry of the transfer of shares is under procedure before the Court Register of the Commercial Court in Zagreb.
Croatian Telecom Inc. shall subsequently publish without delay when the Merger Agreement is concluded between Iskon Internet Inc. and Croatian Telecom Inc., in line with Articles 517 and 531 of the Companies Act.