E.ON close to ONE sale

16 May 2007

Austrian utility group E.ON is reported to be close to finalising the sale of its majority stake in the country’s third largest cellular operator, ONE. A report from Forbes quotes local news agency APA which says E.ON has already received preliminary offers for its 50.1% stake in ONE and is now at the stage of due diligence. KPN of the Netherlands, France Télécom, Orascom of Egypt and Russian group Alfa are all named as potential buyers. ONE, which is estimated to be worth around EUR1-1.5 billion, had 1.83 million subscribers and a 20% share of the Austrian mobile market at the end of 2006. Other shareholders include Orange and Telenor – both with a 17.45% interest – and TDC of Denmark, which holds 15%.

Austria, Orange Austria