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Telekom Austria group enters the Slovenian Mobile market
Vienna, Austria (ots-PRNewswire) - Telekom Austria's (NYSE: TKA) mobile subsidiary, Mobilkom Austria, signed today the purchasing agreement for the acquisition of a controlling stake in the Slovenian mobile communications provider SI.MOBIL d.d.
Having started its operations in March 1999, si.mobil holds now a 14% market share of the rapidly growing Slovenian mobile telecommunications market. With about 130,000 subscribers, the company achieved unaudited revenues in the amount of 29.9 million euros for the financial year ended December 2000.
Under the terms of the transaction, Mobilkom Austria is to acquire a 49% stake in si.mobil. An additional 26% plus 1 share in si.mobil will be purchased by Teleimpuls, a Slovenian company which is already 49% owned by Mobilkom Austria. The present transaction is based on an acquisition value of 141 million euros.
The remaining 25% less 1 share in si.mobil will be held by other Slovenian shareholders and will be acquired by Mobilkom Austria at a later stage. At that time, legal changes in Slovenian company law will allow direct foreign majority ownership in si.mobil. By the end of 2002, Mobilkom intends to exercise its right directly to acquire any outstanding shares in si.mobil.
The transaction is subject to no further regulatory or other consents, save those referred to above.
Commenting on the acquisition, Heinz Sundt, Chief Executive Officer of Telekom Austria, said:
"The acquisition is a logical step in building our leadership position in mobile communications within Austria and other Central European markets. It forms the ideal bridge between our successful mobile activities in Austria and in Croatia, as well as those of Mobilkom's strategic partner, Telecom Italia Mobile."
About Telekom Austria
Telekom Austria is Austria's leading provider of telecommunications services. It was listed on the Vienna and New York stock exchanges in November 2000 and has a current market capitalization of 3.2 billion euros. The group has four main business areas: fixed line, mobile communications, data communications, and Internet. It has international operations in the Czech Republic and Croatia.
Mobilkom Austria is Austria's leading provider of mobile communications services. Telekom Austria owns 75% less 1 share of Mobilkom Austria. The remaining 25% plus 1 share is owned by Telekom Italia Mobile.
Statements contained in this press release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to risks and uncertainties which could cause actual results to differ from the forward-looking statements contained in this release and that may affect the Company's prospects in general are described in the Company's filing with the Securities and Exchange Commission.
ots Originaltext: Telekom Austria
Contact: Hans Fruhmann, Head of Investor Relations of Telekom
Austria, phone. +43 59059 1 20917