Telekom Austria is to buy B.Neti in a deal worth 93 million Euros.

Austria’s telecom giant is to take over Croatia’s largest cable operator through their Croatian subsidiary Vipnet.

Hannes Ametsreiter, CEO of Telekom Austria said: "The convergence of fixed and mobile communication has become a predominant feature in the telecommunication sector and represents a key pillar of Telekom Austria Group’s strategy."

With B.net’s network reaching 266,000 households, this deal could prove to be a lucrative one for the Austrian company. Ametsreiter went on to say:

"The acquisition of a cable operator will allow Vipnet to participate in the anticipated strong growth of fixed broadband, TV-services and convergent products in the Croatian market and to position itself as a fully integrated operator", Austrian Times has reported.

The deal which is expected to go through later this year, is subject to approval by the Croatian competition authority.