MONTREAL-Canadian company Telesystem International Wireless and ClearWave said they will acquire a 3.62-percent stake in Czech mobile operator Cesky Mobil from Ceska Konsolidacni Agentura, a Czech state-owned agency. TIW and ClearWave, through their TIW Czech subsidiary, will buy the stake for $17 million, which represents the amount paid originally for the stake, plus interest compounded at 7 percent per annum .
The interest accrued as of Oct. 6 is about $4.8 million TIW said. CKA is exercising an option that allows it to sell its entire stake at its purchase price plus 7-percent annual interest.
TIW Czech will finance the acquisition via shareholders’ contribution. ClearWave owns 24.2 percent of TIW Czech, and its share of the purchase price is about $5.3 million. TIW Czech’s interest in Cesky Mobile will increase to 99.87 percent following the transaction.
Cesky Mobile had 1.33 million subscribers at the end of June, TIW said. It operates under the brand name of Oskar.
