MidEuropa Sells Its Stake in T-Mobile Czech Republic to Deutsche Telekom
Falcon Group, a consortium of investors 75% controlled by funds managed or advised by MidEuropa, announced today that it has entered into a binding agreement to sell its entire 39.23% stake in T-Mobile Czech Republic, a.s. (“TMCZ” or the”Company”) to Deutsche Telekom for a total consideration of €828 million. Closing of the transaction is expected by the end of February.
Nikolaus Bethlen, Partner of MidEuropa commented:
“We are delighted to announce another successful exit for MidEuropa. Since our original acquisition of the stake in the Company in 2006, TMCZ has become the market leader in mobile communication services in the Czech Republic, growing to more than 5.8 million subscribers and successfully diversifying into fixed line and B2B services. We would like to thank everyone at TMCZ for their contribution and achievements over the past several years and wish them continued success.”
Robert Chmelar, Associate Director of MidEuropa, noted:
“The successful sale of our stake in TMCZ is yet another landmark deal executed by MidEuropa in the Czech Republic, which continues to be one of the core markets for our firm.”
The transaction was executed by Robert Chmelar, Ratko Jovic and Evtim Chesnovski from MidEuropa.