Cosmoté buys out OTE’s stakes in GloBul and Cosmofon

3 Aug 2005

Cosmoté has signed an acquisition agreement for the purchase of stock from its parent OTE in mobile phone subsidiaries GloBul (Bulgaria) and Cosmofon (Macedonia), through a transfer of shares held by MTS of the Netherlands, which holds 100% in Cosmofon for OTE. The transfer of GloBul’s shares was completed on Monday, with the purchase of MTS’ stock expected to be finalised within a month. The acquisition price of EUR490 million, of which EUR400 million relates to GloBul, will be paid in two instalments.

Bulgaria, Greece, North Macedonia, Cosmote (old), ONE (incl. on.net and Cosmofon), Telenor Bulgaria