T-Hrvatski Telekom (Reuters: THTC.L, HT.ZA; Bloomberg: THTC LI, HTRA CZ; “HT”), a leading provider of telecommunications services in Croatia, announces that it has signed a non-binding Letter of Intent with Ericsson and Ericsson Nikola Tesla to outsource the services of construction and maintenance of HT’s infrastructure and has initiated respective consultations with the Workers’ Council of HT accordingly.
With this project, HT intends to raise the quality and efficiency of its infrastructure and related facilities, while optimizing its current construction and maintenance related costs. The envisaged project includes approximately 650 employees of HT. The mentioned employees are planned to be transferred to a subsidiary of Ericsson Nikola Tesla. If negotiations are successfully completed and if the necessary corporate and, possibly, regulatory approvals are obtained, the contract will be signed and HT will promptly inform the public of the most significant elements of the contract.