BONN, Germany—Deutsche Telekom became a majority shareholder in Croatia’s Hrvatski Telekom. Deutsche Telekom raised its holding in the company from 35 percent to 51 percent by acquiring a further 16-percent stake from the government for $447.5 million.
HT operates a mobile network, called Cronet, with about 800,000 subscribers.
The companies said they will invest more than $626.6 million through 2004 to support HT’s privatization plan. About 300 new jobs will be created as well.
DT acquired the original 35-percent stake in HT in October 1999.
