Serbia: Telenor Wins Auction for Mobi 63

31. Juli 2006, 00:00

B92 reports that the Norwegian Telenor came out on top in its bid to buy Mobi 63 and is set to pay EUR 1,513 million

B92 reports that the Norwegian Telenor came out on top in its bid to buy Mobi 63 and is set to pay EUR 1,513 million. The lowest price for the company owned by the Republic of Serbia and a group of Austrian investors was EUR 800 million, consisting of a starting mobile telephony licence fee at EUR 320 million, and the state share in the Mobi 63, formerly Mobtel network.

The starting price at the auction was the highest price interested parties offered, and was increased by EUR 20 million in each round of bidding. The event was open to public, and took place in the Belgrade Hyatt hotel, broadcast directly on state television.

Since the final price exceeded EUR 1.1 billion, the Austian minority partner is now obliged to sell its 30 per cent of stock. The new owner will continue to employ all the current personnel.

Mobi 63 was founded in April this year. Prior to that, the Serbian government revoked Mobtel’s the licence to operate, forcing its owner, Bogoljub Karić to flee the country.

The Norwegian Telenor currently has around 200 million subscribers in 12 European and Asian countries, and already owns the Montenegrin mobile operator Promonte.

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