Telekom Slovenije submits binding offer for Cosmofon

13 Mar 2009

Slovenian incumbent Telekom Slovenije yesterday announced it is submitting a binding offer for Macedonia’s second largest cellco by subscribers, Cosmofon. The Macedonian company is owned by Hellenic Organisation of Telecommunications (OTE) of Greece, but is due to be sold for antitrust reasons after Deutsche Telekom (DT) acquired a 25% interest in OTE in October 2008. The German giant also controls T-Mobile Macedonia and competition authorities ruled that as Cosmofon and T-Mobile collectively control more than 90% of the domestic mobile market, DT must sell one of them to avoid a monopoly situation arising. The Greek owners are hoping to raise between EUR250 million and EUR300 million (USD336 million and USD402 million) from the divestment, which has also attracted interest from Turkish mobile operator Turkcell, fixed line operator Turk Telekom and Telekom Austria.

North Macedonia, ONE (incl. and Cosmofon), Telekom Slovenije (incl. Mobitel)