Friday, May 29, 2009

Macedonia: Telecom Slovenia says it will invest EUR 30 millions in Cosmofon

[balkan insight] Telecom Slovenia Group, the new owner of Macedonia’s second largest mobile operator Cosmofon and its major distributor Germanos, vowed a 30 million euros investment in the country.

The money will be spent on implementing the new Mobile Digital Video Broadcasting services on the Macedonian market, the company told local media at a press conference in Skopje.

“We are pleased with the condition of Cosmofon. We will upgrade it based on those grounds”, the head of Telecom Slovenia, Bojan Dremelj, told media at the press.

Telecom Slovenia, which also took over the country’s internet provider three years ago, announced a merger of Cosmofon and and their re-branding by the year end in order to provide more integrated services.

Greece's largest telephone company, OTE, agreed to sell Cosmofon to the Slovenian company for €190 million at the end of March.

Cosmofon went on sale last year by order of the State Anti-Monopoly Committee after Deutsche Telecom took over OTE and thus gained control over both Cosmofon and the country’s largest mobile operator, T-Mobile.

Cosmofon is the second-largest mobile operator, with a 30 per cent market share and 650,000 subscribers.

Telecom Slovenia Vows Macedonia Investment

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