November 6, 2018 / 9:49 AM / 13 days ago

Serbia's state telco buys cable TV, internet provider Kopernikus -newspaper

BELGRADE, Nov 6 (Reuters) - Serbia’s state-run Telekom Srbija has purchased Belgrade-based cable TV, telephony and internet provider Kopernikus for around 200 million euros, the Vecernje Novosti newspaper reported on Tuesday, citing sources.

Kopernikus operates in 60 municipalities across Serbia and has around 200,000 users. The price was set at below 1,000 euros per user, the report said.

According to 2016 data, Telekom Srbija is the largest broadband internet provider in the Balkan country with a market share of around 46 percent and the second largest cable television provider with a market share of around 25 percent.

Telekom Srbija is also a majority shareholder in Bosnia’s second-largest telecom operator, Telekom Srpske, and controls Montenegrin mobile operator M:Tel.

The consolidated net profit of the Serbian operator in 2017 stood at 14.7 billion dinars (124.48 million euros), down from 14.95 billion dinars the year before. The company’s investments in 2017 fell by 6.2 percent to 26.7 billion dinars.

Serbia tried to sell a majority stake in Telekom Srbija in 2015 as it sought to offload some state assets, but rejected all six offers as too low.

Telekom Srbija officials were not reachable for immediate comment.

1 euro = 118.0928 Serbian dinars Reporting by Aleksandar Vasovic; editing by Jason Neely

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