Telekom Austria completes acquisition

Telekom Austria has announced the closing of the acquisition of Croatian cable operator via its Croatian subsidiary Vipnet.

Based on an agreed total purchase price of €93 million, Vipnet today acquired 100% of shares of allowing it to gain full control of the company. 
The acquisition was announced on June 8 and given the green light by the Croatian competition authority on July 28. 
Telekom Austria said is expected to be reported under the Croatia segment from the third quarter of 2011.

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