Annual Report 2011 - T-Hrvatski Telekom

102
Consolidated financial statements
at 6 January 2009) and Ordinance on Certificate and
Fees for the Right of Way (Official Gazette No. 31/09
effective as of 19 March 2009) the Croatian Post and
Electronic Communications Agency started issuing
certificates for the rights of way for certain routes in
the city of Zagreb to HT. The Company believes that
the issued certificates for the rights of way might
help HT in the lawsuit filed by Zagrebački Holding
Zagrebački Digitalni Grad (ZHZDG) (Note 27).
The legalization process is to be speeded up due to
Law on Electronic Communications which obliges
local municipality and other owners of the land
used for the construction of telecommunication
infrastructure to give HT “right of way” if other
solutions were not agreed.
The Group assessed and declared the existence of
the risks thereon, including obtaining legal opinions
with respect to certain of the issues involved;
however, due to the fact that these issues are very
complex so far the Group has not yet been able to
determine the possible outcome and whether it will
result in any impairment of the DTI assets concerned
due to any inability to prove title or as a result of the
additional right of way charges that may be imposed,
which could have a retrospective effect. Therefore, no
adjustments were made to these financial statements
in respect of this matter.
The net book value of all the Group’s ducts as at 31
December 2011 is HRK 885 million (31 December
2010: HRK 889 million).
12 Investment in associate
The net book value of investments in associate
comprises:
HP d.o.o. Mostar
31 December
2011
HRK millions
2
2
31 December
2010
HRK millions
2
2
HT d.d. has an ownership interest of 30.29% in its
associate HP d.o.o. Mostar which is incorporated
in the Republic of Bosnia and Herzegovina. The
principal activity of the associate is provision of postal
services.