MILAN, Italy-Telecom Italia Mobile said it completed a deal with T-Mobile Global Holding for the sale of TIM’s 7.16-percent of the share capital of Cmobil, a Dutch holding company that owns 60.8 percent of T-Mobile CZ. This participation corresponds to an indirect stake of 4.35 percent in T-Mobile CZ, a wireless carrier in the Czech Republic.
The overall value for this operation is $91.3 million and will determine a capital gain of about $79 million in TIM’s group consolidated financial statement.
T-Mobile CZ had 4.4 million customers at end-2004.
TIM said the sale is in line with its strategy to dispose of small international ownership stakes.
