Mobilkom Completes Slovenian Investment

mobilkom austria says that it has acquired remaining 7.812% share in the Slovenian mobile operator Si.mobil from Medaljon and Iskratel. With the closure of this transaction mobilkom austria becomes 100% owner of Si.mobil. Since majority takeover, Si.mobil has successfully asserted itself in the Slovenian market.

mobilkom austria began its investment in Slovenian mobile operator Si.mobil in February 2001 and has held a 75% plus one share interest since December 2001. Following an agreement reached in the beginning of December 2005, mobilkom austria was able to accelerate the acquisition of the remaining 25% minus one share for an aggregate purchase price of EUR 39.6 million, purchasing a further interest of 17.188% on 7 December 2005 as a first step. Therewith mobilkom austria held 92.188% in Si.mobil. On 24 May 2006, mobilkom austria took over the remaining share of 7.812% for a purchase price of EUR 12.6 million from shareholders Medaljon and Iskratel. With the closure of this transaction mobilkom austria becomes 100% owner of Si.mobil.

"Si.mobil in Slovenia is part of our growth strategy in Central and Southeastern Europe. With the completion of this transaction, all international companies of the mobilkom austria group wholly belong to mobilkom austria. We will intensify our commitment in Southeastern Europe even further and continue our expansion strategy," says Dr. Boris Nemsic, CEO Telekom Austria Group and CEO mobilkom austria, explaining the successful conclusion.

The Mobile World database notes that Si.mobil ended Q1 2006 with just over 370,000 subscribers - representing a market share of about 20%."

Posted to the site on 30th May 2006