BONN, Germany-Deutsche Telekom acquired a majority stake in Czech mobile phone operator RadioMobil for about $565 million. The German carrier’s CMobil company increased its previously held 49-percent stake in the Czech company to 60.8 percent.
DT is exercising an option established in the original 1996 joint venture agreement between DT and Ceske Radiokomunikace. The value of the option is $765 million, but the amount CMobil will pay Ceske Radiokomunikace for the 30-percent capital increase will be reduced by about $200 million, which was paid when the license agreement was signed, DT said.
CMobil is held 84.55 percent by DT’s T-Mobil wireless subsidiary and 12 percent by Telecom Italia.
DT said RadioMobil has more than 1 million customers, 1,500 employees and revenues of $284.4 million.
The Czech government plans to sell 51 percent of Ceske Radiokomunikace later this year, and DT is expected to bid.
