Telemach Slovenia has signed a share purchase agreement with Garnol for the acquisition of business shares in T-2, securing at least 98.06% ownership in the company. The transaction will be completed upon receiving the necessary approvals. Customers will enjoy cutting-edge technology, a broader and higher-quality range of services, content, and packages.

Through this transaction, Telemach Slovenia will initially acquire a non-controlling stake of 24.9% of T-2’s equity. After obtaining approval from the relevant regulators, Telemach Slovenia is set to acquire at least 98.06% of the shares in T-2 as per the terms of the signed share purchase agreement.

The transaction will enable T-2 to continue its stable development and invest efficiently in cutting-edge technologies, products, and enhanced user experiences. The merged Telemach and T-2 are set to offer customers a technologically advanced fiber network, enhanced mobile services and unlimited packages, contributing to the national goals of connectivity and 5G network coverage.

“Today’s agreement ensures a competitive future for T-2, which was compormised due to the threat of bankruptcy. This acquisition strengthens our capacities for further investment in the most modern mobile and fixed telecommunications infrastructure, advanced technologies, and innovative products and services. We are convinced that industry consolidation is crucial to maintain competitiveness in the Slovenian market and to advance digitalization and connectivity, which will strengthen the Slovenian economy in the long term,” said Tomislav Cizmic, CEO of Telemach Slovenia.

Jurij Krc, majority owner of Garnol and Procurator at T-2, stated: “T-2 is an outstanding and successful company that has been the flagship of the technological development of the Slovenian telecommunications market for the past 20 years. With this transaction, the T-2 company will continue to be able to successfully develop its potential on the Slovenian market. The solution provided by Telemach is crucial for our employees, customers, and business partners. We believe that this partnership will bring positive changes to the telecommunications market and contribute to an even better user experience for all our subscribers.”

The transaction will, in addition to consolidation of mobile and fixed networks of both companies also enable the blending of expertise, thereby benefiting Slovenian subscribers and the overall economy.