U.S. companies to sell stake in Czech mobile operator

PRAGUE, Czech Republic—Atlantic West, a joint venture owned 51 percent by Verizon Telecommunications and 49 percent by AT&T, both of the United States, is reportedly selling its 49-percent stake in Czech mobile operator EuroTel Praha for about US$1.5 billion to Cesky Telecom. The deal would give Cesky Telecom 100-percent control over the operator.
International press reports said the companies have not yet reached a final agreement.
EuroTel is the leading mobile operator in the Czech Republic with about 2.65 million users at the end of June.
In addition, reports said Verizon and AT&T are in discussions to sell their combined 49-percent stake in Eurotel Bratislava, a mobile operator in the Slovak Republic. Deutsche Telekom owns the other 51 percent of Eurotel Bratislava.