BELARUS NEWS AND ANALYSIS

DATE:

04/10/2007

Telekom Austria moves into Belarus mobile market

Agence France Presse

VIENNA: Telekom Austria said Wednesday it was moving into the Belarus mobile telecommunications market by buying the number two operator there, MDC.

Telekom Austria said in a statement it had agreed to buy a 70-percent stake in MDC's parent company, Cyprus-based SB Telecom, for around 730 million euros (one billion dollars).

In addition, the Austrian telecoms giant had an option to buy the remaining 30 percent by the end of 2010 for an additional 320 million euros, the statement said.

SB Telecom is the sole owner of MDC which, with its Velcom and Privet brands, is the second-biggest mobile phone operator in Belarus with a market share of 42 percent and more than 2.7 million customers, Telekom Austria said.

"The acquisition of MDC is consistent with our strategy of profitable growth in eastern and south-eastern Europe and it offers us entry into the attractive market of Belarus," said Telekom Austria chief executive and Mobilkom Austria head Boris Nemsic

Source:

http://thepost.com.pk/BizNewsT.aspx?dtlid=121517&catid=7

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