Cyprus gets second GSM licence

3 Nov 2003

The Lebanese-based Scancom group has been awarded a licence to offer GSM mobile services in South Cyprus, after the sole remaining competitor Cosmote of Greece withdrew from the auction; Scancom bid USD25.5 million for the 20-year concession. The country’s incumbent cellco CyTA is required to match the fee Scancom has paid in order to maintain a level playing field. The Lebanese company has 30 days to pay for the licence: it is allowed to either pay in full, or make a 20% deposit with the balance payable over four years.