EuroTel Commits to 30 Month 3G Rollout Plan

Slovakia's EuroTel has paid the second installment of its UMTS license fee in the amount of US$23.67 million was paid in full to the Telecommunications Office of the Slovak Republic. EuroTel has paid a total of US$35.5 million for its UMTS license in 2002, fulfilling all its payment obligations to the Telecommunications Office of the Slovak Republic and complying with its UMTS license conditions. The payments were funded entirely from surplus cash carried on the balance sheet.

The license was granted to EuroTel on July 2, 2002, and became effective on July 16, 2002. EuroTel has agreed to commence providing UMTS services no later than 30 months from the date on which the UMTS frequency is released to it. EuroTel anticipates the release of the UMTS frequency to occur, in accordance with the license, no later than September 30, 2003.

EuroTel is owned 51% by Slovak Telecom, a subsidiary of Deutsche Telekom and 49% by Atlantic West, a joint venture between subsidiaries of Verizon Communications and AT&T Wireless."

Posted to the site on 3rd December 2002