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Industry: Email Alert RSS FeedTelekom Austria gets call option to acquire Bulgarian operator.(Global Wireless)
RCR Wireless News, January, 2005
Telekom Austria said it acquired a call option to purchase Bulgarian wireless carrier Mobiltel AD. The option gives the Austrian carrier the right to purchase full control of Mobiltel for up to $2.1 billion in late 2005. "The terms of the transaction underline Telekom Austria's prudent growth strategy in southeastern Europe and perfectly match the criteria, which we have communicated for our expansion policy,'' said Heinz Sundt, chief executive officer of Telekom Austria.
The call option is priced at $106 million, which would be offset against the purchase price. The option is payable in the first quarter of 2005 and is exercisable in the third quarter. The $199 million purchase price is contingent on Mobiltel achieving certain operating and...
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