BELARUS NEWS AND ANALYSIS

DATE:

04/10/2007

Telekom Austria Buys 70 Percent Stake In Belarusian Mobile-Phone Operator

The Austria Telekom group announced on October 3 that it has agreed to acquire a 70 percent stake in Belarus's Mobile Digital Communication (MLS), also known as Velcom, for 730 million euros ($1 billion), international news agencies reported. Austria Telekom will buy the stake through a 70 percent holding in the MLS's full owner, Cyprus-based SB Telecom, which reportedly acquired the MLS from the Belarusian government in August. Neither the MLS nor the Belarusian government have issued any statement on the deal with the Cypriot company. Austria Telekom also has an option to buy the outstanding 30 percent stake at a price of 320 million euros in the fourth quarter of 2010. JM

Source:

http://www.rferl.org/newsline/2007/10/3-cee/cee-041007.asp