Slovenian Telecom Acquires part of Kosovo internet provider IPKO
Prishtinë, May 30, 2006 - Slovenian Telecom acquired 75% of shares of Ipko Net Company, the biggest internet provider in Kosovo, officials said Monday.
Slovenian Telecom as part of its expansion abroad announced an investment of € 19.5 million in this company in the efforts for further modernization of the network.
Ipko Net has over 100 employees, providing Internet services to businesses and residents, and covering about 80 percent of the Kosovo's territory, officials added.
According to the IPKO manager, Akan Ismajli there is a large synergy of cooperation between the two companies, which will represent an important ‘player’ in Kosovar market.
This is the third investment of the Slovenian Telecom abroad, having purchased in March FYROM's second-biggest Internet provider, On.net, and signed in April an agreement with German international phone services provider 01066.
Ipko Net posted revenues of EUR 4.6m and a pre-tax profit of EUR 2.4m in 2005.
Kosovo has been administered by the United Nations since June 1999. The interest of foreign companies to invest in Kosovo is increasing, as the final solution of the political status approaches to the end.