OTE Appoints Advisors on Cosmofon Sale

Greece's Hellenic Telecoms Organization (OTE) has appointed two financial advisors to the sale of its Cosmofon mobile phone division which operates in the Former Yugoslav Republic of Macedonia (FYROM).

The advisors are N M Rothschild & Sons Ltd and EFG Telesis Finance. The company is required to sell the subsidiary due to Deutsche Telekom holding a 22% stake in OTE - and also owning T-Mobile which also operates in Macedonia.

Founded in 2003, Cosmofon was the second GSM mobile phone operator in Republic of Macedonia and was awarded a 3G license earlier this year.

Cosmofon ended the first half of this year with just over 640,000 subscribers and a local market share of 30.5% according to figures from the Mobile World. The country itself has a population penetration level of 102%.

On the web: Naftemporiki - Mobile World

Posted to the site on 16th September 2008