Slovak Telecom agrees to buy remaining EuroTel shares

SLOVAK TELECOM (ST) fixed-line operator is to increase its stake in EuroTel Bratislava, one of Slovakia's two mobile operators, from 51 percent to 100 percent, it was confirmed on September 27.

ST has agreed to buy the remaining 49 percent from Atlantic West BV, a consortium of Verizon Communications and AT&T Wireless, Alena Buchláková of ST's external communication division told TASR news wire.

EuroTel has around 44 percent of a market that it shares with Orange Slovakia.

ST chief executive Miroslav Majoroš was quoted as saying about the deal: "We are pleased that due to EuroTel's innovative services and intensive commercial activities, we have increased our share in the mobile communications market. After the transaction, Slovak Telecom will become an integrated provider of a full range of telecoms services in the Slovak Republic."

EuroTel chairman Michael Guenther said: "The purchase by ST of the remaining 49 percent in EuroTel is a basic pre-condition for expanding the successful cooperation between EuroTel and T-Mobile International (a mobile subsidiary of ST's owner Deutsche Telekom)."

The deal has still to be approved by relevant bodies of the European Union.

Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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