REDMOND, Wash.-As previously announced by Cesky Telecom, AT&T Wireless Services Inc. said it has signed an agreement to jointly sell with Verizon Communications Inc. a 49-percent interest in Czech Republic wireless operator Eurotel Praha to Cesky Telecom for $1.05 billion. Proceeds from the sale will be split evenly between AT&T Wireless and Verizon.
AT&T Wireless added that prior to the sale, Eurotel Praha will pay a $100 million dividend payment to AT&T Wireless, which the U.S. carrier said was approved by Eurotel’s board independent of the sale transaction.
Cesky Telecom is expected to seek debt financing to fund the deal, which will leave the company with complete ownership of Eurotel.
Verizon announced last week plans with Vodafone Americas B.V. to sell their 73.9-percent stake in Mexican wireless operator Grupo Iusacell to Movil Access for $10 million.
