MONTREAL—Telesystem International Wireless said its indirect subsidiary MobiFon in Romania paid a first $11.4 million installment on a $26.6 million dividend declared on March 27. Romanian operator MobiFon is held through ClearWave, which is responsible for a $7.3 million portion of the first installment.
The balance of the dividend is expected to be paid by MobiFon in July and October of this year, subject to the operator meeting certain financial tests at the ends of the second and third quarters.
ClearWave will use the proceeds to fulfill its funding commitments in Czech operator Cesky Mobile and for general corporate purposes.
TIW said MobiFon had more than 2 million customers at the end of 2001.
