Telecom buys out US partners in Eurotel

28 Sep 2004

Slovak Telecom (ST) has struck a deal to buy out its US partners AT&T Wireless and Verizon and take full ownership of its mobile business Eurotel. The value of the transaction has not been disclosed, though the 49% stake that it is to purchase was recently valued at around EUR250 million. It is also not yet known whether Deutsche Telekom subsidiary ST will bring Eurotel under its parent’s global T-Mobile wireless brand. Eurotel is the smaller of Slovakia’s two mobile operators, with a market share of 44% at mid-2004; it competes with France Télécom subsidiary Orange.