Radiokomunikace snaps up Tele2’s local unit

4 May 2006

Czech telecoms operator and transmission company Radiokomunikace has acquired the local unit of Swedish pan-European alternative operator Tele2, according to the Czech News Agency citing people familiar with the deal. An official announcement is expected today. The takeover will raise Radiokomunikace’s customer base to more than 450,000 and increase annual revenues from CZK2.3 billion (USD2.08 billion) to CZK3 billion. As a result of the merger, the Tele2 brand will disappear within the next six months as the Swedish firm ends its activities in the country. The transaction is another step towards consolidation of the Czech telecoms market. Last year GTS Novera bought rivals Contactel, Nextra and Telenor Networks, just a year after it was set up through the merger of alternative operators GTS and Aliatel.

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