Telekom to move east after MobilTel purchase

18 Jul 2005

Telekom Austria has acquired Bulgarian mobile phone operator MobilTel (MTel) for USD1.93 billion, the biggest foreign investment in Bulgaria’s history. Telekom Austria plans to merge the cellco within its Mobilkom-Austria-Group, boosting the division’s annual revenues by around 24% to USD3.1 billion and lifting its customer base from 4.9 million to eight million. Austria’s leading telecoms operator plans to continue its eastward expansion through the possible acquisition of stakes in companies in Serbia and Bosnia-Herzegovina.

Austria, Bulgaria, A1 Bulgaria (Mobiltel), A1 Telekom Austria Group