The approval is based on certain commitments, such as MVNO access offered by the merged entity to interested parties. The transaction is expected to close in the fourth quarter.
In October last year, Telekom Austria Group announced that it has agreed with Telekom Slovenije Group to merge their subsidiaries Vip Operator and ONE, both operating in Macedonia. Telekom Austria Group will hold 55% and have sole control over the newly created entity, while Telekom Slovenije Group will hold 45%. The agreement also includes call and put options for the exit of Telekom Slovenije Group from the joint venture within three years of the closing of the merger.
ONE is the third largest mobile network operator in the Republic of Macedonia with about 715,000 customers.