Mobilkom Austria secures 100% of Si.Mobil

30 May 2006

Mobilkom Austria has acquired 7.81% of shares in Slovenian cellco Si.mobil from electronics firm Iskra (5.46%) and investment company Medaljon (2.35%) for a total of EUR12.6 million to take its holding to 100%. Mobilkom has held over 75% of Slovenia’s second largest mobile operator since December 2001, and upped its stake to 92.19% following an agreement reached in December 2005, under which it accelerated the acquisition of 25% minus one share for an aggregate purchase price of EUR39.6 million. Dr Boris Nemsic, CEO of Telekom Austria Group and Mobilkom Austria, said of the move: ‘Slovenia is part of our growth strategy in Central and Southeastern Europe. With the completion of this transaction, all international companies of the group wholly belong to Mobilkom Austria. We will intensify our commitment in Southeastern Europe even further and continue our expansion strategy.’ According to TeleGeography’s GlobalComms database, Si.Mobil ended March 2006 with 370,900 GSM subscribers, representing a market share of 21.5%, behind market leader Mobitel which reported a subscriber base of 1.277 million, or 74.5% of the country’s total.