Mobi 63 Auction to Be Held on Monday

27. Juli 2006, 00:00

Three foreign companies will be competing in an auction to purchase the Mobi 63 telecommunications company

Three foreign companies will be competing in an auction to purchase the Mobi 63 telecommunications company.

The auction will be held on Monday, 31st July and the initial price will be the bid submitted by the potential buyers. The initial price will be increased by EUR 20 million in every round of the bidding. According to the terms as stipulated in the tender, the final price cannot be lower than EUR 800 million.

The three companies to take part in the auction are the Austrian Mobilkom, Telenor from Norway and the Egyptian telecommunications company Orascom, as they were the only three companies to submit their bids. Initially, ten companies, including Deutsche Telecomm, France Telecom, the Swedish telecommunications company Tele 2 and the Russian MTS, showed interest in purchasing Mobi 63, but they gave up on it probably due to the numerous scandals surrounding the tender for the sale of this company.

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