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Cosmote agrees Zapp price

12 May 2009

Greek telecoms group Cosmote has reportedly reached an agreement with Saudi Oger regarding the takeover of Romanian mobile operator Zapp, Business Standard Romania reports. Cosmote will reportedly pay around EUR220 million (USD299 million) for Telemobil, the company that owns Zapp, in a deal that could be completed in June. As reported by CommsUpdate on 17 March, Cosmote opened negotiations over the acquisition of Zapp with the aim of obtaining Zapp’s 3G licence for its Romanian subsidiary Cosmote Romania, the only mobile operator in the country without an UMTS concession.

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