Telekom Slovenije signs agreement with Cosmote for the acquisition of Cosmofon and Germanos Telekom Skopje in Macedonia

TELEKOM SLOVENIJE (Telekom) has signed today Share Purchase Agreements with Cosmote and Germanos SA for the acquisition of a 100% stake of COSMOFON MOBILE TELECOMMUNICATIONS AD SKOPJE (Cosmofon), through COSMOTE’s 100% owned subsidiary, OTE MTS HOLDING B.V., as well as a 100% stake of GERMANOS TELECOM AD SKOPJE (GTS). The total value of the transaction is EUR 190 million.

The sale and purchase agreements were signed by Mr. Bojan Dremelj, President of the Management Board of Telekom Slovenije and Mr. Michael Tsamaz, COSMOTE Group Deputy CEO.

Mr. Dremelj commented: “We are very happy to announce that we have signed agreements to acquire 100% of Cosmofon and GTS. This acquisition complements our existing operations in Macedonia and continues with our strategy of becoming one of the leading telecommunications provider in SEE”.

Mr. Tsamaz added: “We are pleased with successful completition of the Cosmofon and GTS sale process and the interest demonstrated by a number of telecommunications groups. We wish to thank and congratulate Telekom Slovenije as well as all parties involved in the process. Furthermore we wish COSMOFON, GTS and their people, who we worked together with as members of COSMOTE Group, every success in the future. I am confident that   Telekom Slovenije will continue  the successful course in the challenging macedonian market”.

COSMOFON started its commercial operations in June 2003, under COSMOTE’s management, holding the second mobile licence in Macedonia. In August 2005 COSMOTE Group acquired 100% of the company’s share capital. With a strong telecommunications network and an extensive retail network countrywide, COSMOFON today has a market share of approximately 30%. COSMOFON was the first to launch 3G-HSDPA services in the market in August 2008. The company has acquired six regional WiMax licenses, launching a nationwide WiMax network. Through its integrated services offerings and multiple technology layers, COSMOFON is one of the most technologically advanced operators in the region. GERMANOS TELECOM AD SKOPJE is COSMOFON’s major distributor in the country with a network of 66 shops. GERMANOS TELECOM AD SKOPJE is a 100% subsidiary of COSMOTE’s GERMANOS SA.

The sale agreement is subject to final approvals by national regulatory authorities.