Telekom Slovenije assumes full ownership of Cosmofon

15 May 2009

Telekom Slovenije has become the 100% owner of Macedonia’s second largest mobile operator by subscribers Cosmofon, after receiving the go-ahead from the Macedonian telecoms competition regulator on 30 April for its planned purchase from Cosmote, the mobile arm of OTE of Greece. In March this year OTE agreed terms with its Slovenian counterpart concerning Telekom Slovenije’s acquisition of Cosmofon, held through Cosmote. The deal also included the sale of Macedonian retail chain Telekom Skopje. OTE sold the two units for a total of EUR190 million (USD251.3 million). The Greek firm was forced to offload Cosmofon for regulatory reasons. In 2008 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, ONE (incl. and Cosmofon), Telekom Slovenije (incl. Mobitel)