The Telekom Serbia-owned M:tel Banja Luka company sold its company in Bosnia and Herzegovina, Sky Towers Infrastructure, the eKapija portal said on Tuesday.

It said that shareholders and investors were informed of the sale which a press release said was in line with a strategic decision. The company was sold to a company of the same name based in Serbia which was set up by the state-controlled Telekom Serbia along with companies of the same name in Montenegro and Bosnia and Herzegovina.

The Sky Towers Infrastructure company owns antenna arrays and other telecommunications infrastructure. The eKapija portal said that the transfer of ownership is part of preparations to sell the antenna arrays to the British Actis GP LLP investment firm. The purchase will be financed with loans from the International Finance Corporation (IFC), and the World Bank.

The sale of the 1,827 antenna arrays to the British company was confirmed by Telekom Serbia CEO Vladimir Lucic who said that the sale was for the antenna array towers, not the base stations with Telekom leasing the towers.