TIW to up MobiFon stake

Canada’s Telesystem International Wireless (TIW) has signed an agreement in principle to buy 15.46% of Romanian GSM operator MobiFon from private investors in cash and shares. The deal, which will see it acquiring stocks held by Deraso Holdings and some Deraso shareholders, will boost TIW’s indirect ownership of the cellco from 63.5% to 79%. According to Bruno Ducharme, President and CEO of TIW, the move will continue the simplification process of its corporate structure. The transaction is subject to other MobiFon shareholders’ pro rata rights of first refusal.