Cosmoté buys out OTE’s stakes in GloBul and Cosmofon

3 Aug 2005

Cosmoté has signed an acquisition agreement for the purchase of stock from its parent OTE in mobile phone subsidiaries GloBul (Bulgaria) and Cosmofon (Macedonia), through a transfer of shares held by MTS of the Netherlands, which holds 100% in Cosmofon for OTE. The transfer of GloBul’s shares was completed on Monday, with the purchase of MTS’ stock expected to be finalised within a month. The acquisition price of EUR490 million, of which EUR400 million relates to GloBul, will be paid in two instalments.

Bulgaria, Greece, Macedonia,Cosmote (old), ONE (incl. on.net and Cosmofon), Telenor Bulgaria,

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