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Vipnet acquires local cable operator Dastin [IntelliNews - Weekly Reports](IntelliNews - Weekly Reports Via Acquire Media NewsEdge) Croatia's second largest mobile operator Vipnet, part of Telekom Austria Group, said it has acquired local cable operator Dastin, which is active on the territory of the northern town of Bjelovar. Vipnet said in a statement it bought 100% of the Bjelovar-based company but provided no financial details on the transaction. Following the takeover, Vipnet expands the coverage of its fixed infrastructure to 4,500 new households. Its optical-cable hybrid fibre-coaxial (HFC) network currently covers more than 350,000 households across the entire country, it said. Moreover, Dastin owns a concession to run the cable television for the Bjelovar city, which is a portfolio of nearly 40 TV channels and eight radio stations. Vipnet reported its earnings before interest and taxes (EBIT) fell 62% to EUR 10.8mn in the first half of 2014. The number of its mobile subscribers declined 3.8% y/y to 1.83mn at end-June, while the number of the fixed-line ones rose by 16% y/y to 208,000. On the Croatian market, Vipnet competes with T-HT (51%-owned by Deutsche Telekom) and Tele2 - the local arm of Swedish telecom company Tele2. (c) 2014 Emerging Markets Direct Media Holdings LLC Provided by SyndiGate Media Inc. (Syndigate.info). |