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26 May 2009

Cosmote to reach EUR 200 M acquisition of Zapp mobile operator

25 05 2009 - Greece's Cosmote, part of OTE Group, is reaching an agreement for the acquisition of Zapp mobile services network for a total consideration of EUR 200 million

Greece's Cosmote, part of OTE Group, is reaching an agreement for the acquisition of Zapp mobile services network for a total consideration of EUR 200 million, sources close to the deal said, local media reports.

“The company is interested in Zapp because of its 3G license, which can provide Cosmote access to the mobile internet market, the business with the fastest growth in the telecom field, given that profit margins from voice services are dropping.

The General Manager of Cosmote Romania, Stefanos Theocharopoulos, indicated last year that one of his term’s priorities is to find a solution to allow the operator to provide mobile data services, given the Greek operator is the only one on the local market without a 3G license,” the sources said.

Cosmote is the third largest mobile operator in Romania, trailing Orange Romania and Vodafone Romania.

Source: emportal.rs



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