HT merges subsidiary Iskon Internet, brand will remain

Iskon has so far operated as an independent company wholly owned by HT. It is now being fully merged, while the Iskon brand will continue to exist as a separate brand within HT.

– Hrvatski Telekom d.d. continues the transformation of its operational model and has initiated the merger process of Iskon Internet with Hrvatski Telekom. The targeted date for the merger to take effect is January 1, 2024, with Iskon Internet d.d. expected to continue operating as a separate brand within Hrvatski Telekom d.d., but with its own offerings, support, and all other commercial conditions that will not change for users. As it covers the telecommunications needs of specific customer segments in the domestic market, Iskon will remain an important stakeholder in the implementation of the HT Group strategy, within which it has existed for over 15 years – said HT

Iskon Internet is a joint-stock company wholly owned by HT holding d.o.o., a company fully owned by Hrvatski Telekom. A Share Transfer Agreement has been concluded for Iskon Internet d.d. between HT holding d.o.o. as the transferring company and Hrvatski Telekom d.d. as the acquiring company, which is a prerequisite for the merger process. The transfer of shares is currently being registered in the court registry of the Commercial Court in Zagreb. Hrvatski Telekom will subsequently announce without delay when the Merger Agreement between Iskon Internet and Hrvatski Telekom will be concluded.

They add that essentially there will be no major changes, which are more of an organizational nature in the form of a more comprehensive integration.

Iskon was founded in Čakovec in 1997 by Damir Sabol, and on May 30, 2006, through a transaction worth 13.7 million euros, Iskon, then with 111 permanent employees, became wholly owned by Hrvatski Telekom. The acquisition of Iskon has proven successful as Iskon continued to operate independently as a company offering broadband telecommunications services under its own name and has continued to grow in all business segments.