Bosnia and Herzegovina's telecom operator BH Telecom will launch a new investment cycle worth 410 million marka ($238.6 million/209.6 million euro), general director Amel Kovacevic said.
The funds will go into investments in the optical infrastructure, the mobile network, 5G and digital services, Kovacevic said in a video address posted on the company's LinkedIn profile on Saturday.
No details were provided on the timeframe of the planned investments.
The new cycle follows 209 million marka invested in the company's network, infrastructure, technology and new services over the past three years, the director said. During that period, BH Telecom built 371 new base station sites, extended its LTE network, raised average user speeds by more than 60% and increased the number of users on the optical network by more than 55%.
Separately, BH Telecom is planning to acquire peer Telemach, a unit of Southeast Europe-focused United Group, on the local market and in Montenegro. In March, Kovacevic said that BH Telecom will take out a syndicated loan of 390 million marka from eight local banks to finance the planned acquisition. The total price has not been disclosed.
BH Telecom’s shares [SAJ:BTHS] last traded on the Sarajevo bourse on September 23, when they closed 3.45% lower at an average price of 14 marka.
BH Telecom is 90%-owned by the government of the Federation, one of two entities that make up Bosnia and Herzegovina.
Source: https://seenews.com/news/bosnias-bh-telecom-to-launch-210-mln-euro-investment-cycle-1301952
