VIENNA, Austria-Telekom Austria submitted an offer to purchase a majority stake in Telekom Montenegro. The value of the offer was not disclosed.
Telekom Montenegro is currently owned 51 percent by the Republic of Montenegro, with the remaining shares held by local private shareholders and institutions. The government of Montenegro has decided to dispose of its stake in the company.
A decision is expected in early 2005, Telekom Austria said.
Telekom Montenegro has 163,000 customers, according to data released by Telekom Austria. The republic has a 57-percent mobile penetration rate. According to data from the RCR Wireless News International Mobile Carrier Database, ProMonte GSM is the wireless market leader in Montenegro with 340,000 customers at the end of September.
