Telekom Austria Group Closes Acquisition of Fixed Net Operator Megalan Network AD in Bulgaria
Vienna, 4 February 2011: The Telekom Austria Group (VSE: TKA, OTC US: TKAGY) today announced the closing of the acquisition of the Bulgarian fixed line operator Megalan Network AD via its Bulgarian subsidiary Mobiltel. Based on an agreed total purchase price, Mobiltel acquired 80% of shares of Megalan Network AD on 3 February 2011 allowing Mobiltel to gain full control of the company. The remaining 20% will be taken over on 31 March 2012.
On 15 September 2010, Telekom Austria Group informed of the intention to acquire two fixed line operators, SpectrumNet AD and Megalan Network AD. The acquisition of the fixed line operator
SpectrumNet AD was completed on 25 January 2011.
The approval of the Bulgarian competition authority for the acquisition of both companies was granted on 30 November 2010.
Both companies will operate as separate entities throughout 2011. Product bundles under the M-Tel brand are already sold since Q3 2010. Both entities are expected to be reported under the Segment
Bulgaria as of Q1 2011.
Contact:
Matthias Stieber
Director Investor Relations
Telekom Austria Group
Phone: +43 (0)50 664 39126
E-mail: matthias.stieber@telekomaustria.com
