Austria Telekom group acquiring majority stake in Belarusian Mobile Digital Communication
October 7th, 2007 Leave a comment Visited 19 times, 1 so far today
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.
|
TechWhack on Facebook
|
This website uses IntenseDebate comments, but they are not currently loaded because either your browser doesn't support JavaScript, or they didn't load fast enough.