Telenor completes Mobi 063 acquisition

1 Sep 2006

Telenor has formally taken over Serbian cellco Mobi 063 after making the EUR1.5 billion (USD1.9 billion) payment to the government. Serbian Prime Minister Vojislav Kostunica hailed the arrival of Telenor as proof that the country is now ripe for foreign investment. Stein Erik Vellan, the new president of the mobile operator, said the company will be renamed Telenor in the coming months. Mobi 063 has around 2.1 million subscribers, equivalent to 45% of the market. Originally named Mobtel, the company was founded in 1994 by then-President Slobodan Milosevic’s government and Serbian tycoon Bogoljub Karic. Last year, amid an ownership dispute with the state, Karic sold his stake to the Austrian investors, who then agreed with authorities to reform, rename and jointly sell the company. Karic has since fled the country dodging arrest on charges of fraud and corruption.

Serbia, Telenor Group, Telenor Serbia,


Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Browse Past Issues


Filter CommsUpdate by the following categories or use the search.


Visit our help page information on performing advanced searches, including how to restrict the results by country or company.


CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.