Serbia’s Commission to Protect Competition has approved the sale of the Masko cable services provider to the Telekom Serbia, a press release said on Tuesday.

It said that the Commission gave its permission for Telekom Serbia to buy 100 percent of the shares of Masko Belgrade which provided cable TV, Internet and phone services to customers in the Serbian capital. The provider reported profits of some 90 million Dinars in 2017.

Telekom Serbia bought the Kopernikus cable services provider in November 2018 and the Radijus Vektor and Avcom providers in January 2019 with Telekom officials saying they were negotiating the purchase of five more small operators as part of the Million Plus development strategy to give the national telecommunications company a million customers.

The government has a 58.1 percent share in Telekom Serbia which has just 20 percent of its own shares with the rest held by small shareholders and employees who were given free shares.