Telekom given eTel approval

11 Apr 2007

Telekom Austria is close to completing its EUR90 million acquisition of local ISP eTel, having announced that competition authorities have approved the deal. The deal, which is subject to a number of conditions, is expected to be completed ‘within the next few weeks’, Telekom says. Local newspaper Der Standard reports that Telekom is hoping that the purchase of eTel will help halt the decline in revenues at its fixed line business. The firm’s CEO of wireline services, Rudolf Fischer, says eTel is an attractive asset and that he would expect operators such as Tele2UTA, Colt, Verizon or Inode to be attracted to eTel if it were to come up for sale again. The Ireland-based ISP, which Telekom agreed to acquire last December, has operations in Austria, Hungary, the Czech Republic, Slovakia and Poland.

Austria, A1 Telekom Austria Group