BH Telecom

Established in 1993 amidst the breakup of Yugoslavia, this company was the first in Bosnia and Herzegovina to provide GSM, 3G, IPTV, and other services. Initially, it operated as a government-owned entity, exclusively owned by the Federation of Bosnia and Herzegovina. In 2004, it became a publicly listed company, with the majority of its shares still held by the government. While stock owners hold both governance and ownership rights, the strategic distribution of capital results in the company effectively remaining under government direction and management.