Serbia’s Competition Commission has approved the acquisition of the Banja Luka-based company Financ by Mtel, which is 65% owned by Telekom Srbija.

According to <em>Nezavisne, Financ sells and distributes Telekom services in Bosnia & Herzegovina. It also provides internet and IPTV services.

Nezavisne adds that Mtel is one of the three national telcos operating in Bosnia & Herzgovina and had revenues of €223 million in 2018.

At the same time, Telekom Srbija had revenues of €1,059 million, of which €724 million were generated in Serbia.

The Competition Commission based its decision on the fact that Financ, majority owned by Milos Buzadija, has no presence in the relevant market in Serbia.