ZAGREB, July 23 (Hina) - Telia and Telenor, Swedish telecommunications companies on Friday announced the hand-over of their non-binding offer for the purchase of 25 per cent + one share of the Croatian Telecommunications (HT).
ZAGREB, July 23 (Hina) - Telia and Telenor, Swedish
telecommunications companies on Friday announced the hand-over of
their non-binding offer for the purchase of 25 per cent + one share
of the Croatian Telecommunications (HT). #L#
Speaking at a news conference in Zagreb on Friday, representatives
of the two companies, which should merge by October 1999, stressed
their interest in Croatia's market potential, the expected growth
of Gross Domestic Product and HT's technology, which is similar to
that of the two companies, as well as in the company's development
potential.
There is a real chance for the HT to become the leading
telecommunications company in central Europe, Telia's vice-
president for international relations, Lars Lindborg, told
reporters.
The non-binding offers for the purchase of HT shares were to be
handed by 3 pm today.
The companies' representatives said that, should they win the
strategic partnership, they would hold it very important to
preserve the company's national identity as well as mutual trust
and understanding. They did not want to comment on the price offered
for HT shares.
Should they win the bid, the two companies will decide the
composition of the management through talks with the existing
management and other HT shareholders. Telia and Telenor officials
said their approach was team work, not taking over control of the
company.
Asked about the labour policy, they believed it would be possible to
use the existing labour in the HT in the course of the company's
development.
Telia and Telenor should become a single company by October this
year. The company would then have some 50,000 employees, its annual
turnover would amount to more than US$10 billion, and its net
profits to US$1.5 billion.
(hina) rml