Telekom Austria eyes Bulgarian expansion

26 May 2004

Telekom Austria’s chief executive officer Heinz Sundt has confirmed that his company is expanding its presence in Eastern Europe with a key focus on the markets of Bulgaria, Bosnia and Montenegro. According to the Financial Times, Mr Sundt has said that the Austrian incumbent is interested in Bulgarian wireless operator MobilTel, although he declined to comment on the progress of talks between the two. MobiTel is the country’s biggest cellco with more than 2.8 million customers and annual revenues in 2003 of EUR432 million and EBITDA of EUR272 million. It is currently controlled by western investors, comprising the Austrian shareholders of Mobitel Holding and seven private equity investors.