Business Combinations and Investments

In March 2009, the Telekom Austria Group acquired 25.029% stake in Marx Media Vienna GmbH in the Fixed Net segment for an aggregate purchase price of EUR 3.2 million, which was paid in cash.

In February 2009 the Telekom Austria Group sold the stake of 37.47% in Infotech Holding GmbH for a sales price of EUR 7.0 million, which was paid in cash. The investment had been reported as asset held for sale in the Fixed Net segment as of December 31, 2008.

Since June 1, 2009 the Telekom Austria Group controls 100% of CRI Beteiligungs GmbH. The aggregate purchase price amounted to EUR 10.6 million. CRI Beteiligungs GmbH was acquired in the Fixed Net segment. CRI Beteiligungs GmbH holds 76% in Cable Runner Austria GmbH, a technology company running optical fiber cable in sewage circuits. The company was merged into Telekom Austria TA AG, which did not have any effect on the consolidated financial statements.

Acquisition of CRI

in EUR million (unaudited)
Fair
values on
acquisition		Fair value
adjustments		Carrying
amounts
before the
combination
Property, plant and equipment21.20.021.2
Intangible assets2.81.61.2
Other non-current assets0.60.00.6
Deferred tax assets6.56.40.1
Trade and other receivables4.30.04.3
Cash and cash equivalents1.10.01.1
Loans and borrowings-3.20.0-3.2
Trade and other payables-16.10.0-16.1
Net identifiable assets and liabilities17.28.09.2
Non-controlling interests-2.9  
Badwill on acquisition-3.7  
Total purchase price10.6  
Cash acquired-1.1  
Net cash outflow9.5  

The table above summarises the assets acquired and liabilities assumed at the date of acquisition as well as the carrying amounts according to IFRS as determined prior to the acquisition. Fair values were determined based on the provisional purchase price allocation to assets and liabilities.

Since the effect of the acquired entity prior to the acquisition on the consolidated financial statements of the Telekom Austria Group is not considered significant, no pro forma information is presented.

On April 30, 2009 the Telekom Austria Group acquired 25.1% interest in DSA BeteiligungsGmbH in the Fixed Net segment. Acquisition cost amounted to EUR 0.4 million. Additionally the Telekom Austria Group signed an option-agreement for EUR 0.5 million to acquire additional 25% interest. In July 2009 the 25.1% interest in DSA BeteiligungsGmbH was sold and the option was cancelled. The sale had no material effect on the consolidated financial statements.