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Deutsche Telekom buys up rest of T-Mobile Czech Republic
2014-02-10 11:03:00| Telecompaper Headlines
(Telecompaper) Deutsche Telekom has agreed to buy the remaining 39.23 percent in T-Mobile Czech Republic it does not yet own for EUR 0.8 billion. The minority stake is held by a consortium of investors led by funds managed or advised by private equity group Mid Europa Partners. Claudia Nemat, DT board member in charge of European operations, said the acquisition is "a natural step towards optimizing our portfolio", and the Czech Republic is important to the company due to its size and structure. The buy-out follows the integration of T-Systems into the T-Mobile operations in Czech Republic and the recent acquisition of Central European operator GTS. The deal will also increase profits at the Czech unit, as it no longer needs to pay dividends to the minority shareholders. T-Mobile Czech Republic is already fully consolidated by Deutsche Telekom, so the transaction will have no impact on group revenue and EBITDA. No regulatory approval is required to complete the acquisition.
Tags: rest
republic
deutsche
czech
Category:Telecommunications
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