Austria Telekom group acquiring majority stake in Belarusian Mobile Digital Communication

The Austria Telekom group has said in a statement that they are now acquiring a majority stake in the Belarusian Mobile Digital Communication.

The deal is worth around USD 1.03 billion. They are buying this stake in the company through a 70 per cent holding in the SB Telecom Ltd. which owns it.

They are also retaining the option to buy the rest of the company at a price of 320 million Euros.

Mobile Digital Communication serves around 2.8 million customers and is a dominating mobile service provider in Belarus.

Boris Nemsic, CEO of Austria Telekom added in a statement: “It offers us an entry to the attractive telecommunication market in Belarus while the terms of the transaction once again underline our disciplined approach to expansion.”

The deal would however require approval by the relevant antitrust authorities.

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