Telekom Slovenije comes out on top in hunt for Cosmofon stake

30 Mar 2009

Greek telecoms incumbent Hellenic Telecommunications Organisation (OTE) has agreed terms with its Slovenian counterpart Telekom Slovenije concerning the latter’s acquisition of Macedonian mobile operator Cosmofon, currently held through OTE’s mobile arm Cosmote. According to a report from Reuters, the deal also includes the sale of Macedonian retail chain Telekom Skopje. OTE will sell the two units for a total of EUR190 million (USD251.3 million), it said in a statement today. The Greek firm has been forced to offload Cosmofon for regulatory reasons. Last year Deutsche Telekom purchased a 25% stake in the Greek operator, but as it also controls Macedonia’s other leading cellular operator T-Mobile Macedonia, it was forced to dispose of the new mobile asset on competition grounds.

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