Cesky given Eurotel go-ahead

12 Aug 2003

Czech fixed line operator Cesky Telecom says that it has received permission from the Czech Office for the Protection of Economic Competition to purchase the 49% of mobile operator Eurotel Praha that it does not already own from Atlantic West, a joint venture between US telcos Verizon [NYSE: VZ] and AT&T Wireless [NYSE: AWE]. Cesky Telecom has been trying to buy Eurotel since 2001, viewing the cellco as key to raising its own value prior to its privatisation. It is thought that the deal will be worth around USD1 billion.

Czech Republic