Western Wireless to sell VIPnet stake to Mobilkom

6 Jun 2003

Washington-based Western Wireless International has announced an agreement to sell its 19% stake in Croatian GSM mobile operator VIPnet to Mobilkom Austria for EUR53.9 million. As a result of the deal, which is expected to be completed within 30 days, Mobilkom’s ownership of VIPnet will rise to 99%; the remainder is held by the Croatian newspaper publisher Vecernji List. Since launching in July 1999 VIPnet has signed up over 1.1 million customers, giving it a 50.3% market share at the end of March 2003; its shares the market with HT Croatia, which operates an analogue and a digital network.