No takers for Eventis Telecom

29 Sep 2010

Russian daily newspaper Kommersant reports that a tender to find a buyer for bankrupt wireless network operator Eventis Telecom has failed to attract a single bid. Despite early interest from the likes of Deutsche Telekom, Telecom Italia and Vimpelcom, the sale proved unattractive at the minimum asking price of MDL113.5 million (USD10 million). Eventis’ local rivals Moldcell and Orange Moldova are also believed to have declined to make an offer.

Eventis Mobile, which at its peak managed to secure just 1% of the Moldovan subscriber base, was declared insolvent by a Chisinau court in March with debts of USD7.5 million. According to TeleGeography’s GlobalComms Database, Eventis launched commercial services on 31 December 2007, having invested USD35 million in its network infrastructure which at launch comprised 260 base stations, giving it 40% population coverage. Over the next two years coverage was gradually expanded to parts of Chisinau, Balti, Soroca, Orhei, Vulkaneshty, Floreshty, Comrat and Strasheny, but the firm failed to meet the requirement of its licence to cover 60% of the population by the end of 2009 (managing just 42%), bringing it into conflict with telecoms regulator ANRCETI.

Moldova, Beeline (Russia), Deutsche Telekom (DT), Eventis Mobile, Telecom Italia (TIM), VEON