Partnership
March 2003 – June 2005
Sector
Telecommunications
Location
Romania
mobile communications provider in Romania operating under the Connex brand
In 2003, MidEuropa acquired a stake in MobiFon, a leading mobile communications provider in Romania operating under the Connex brand. MidEuropa leveraged its relationship with Telesystem International Wireless (TIW), forged through successful cooperation on Oskar, and expressed interest in investing in TIW’s MobiFon asset which led to securing the investment. The firm was Romania’s top player in the domestic wireless market, with approximately 5 million subscribers since launching the first GSM network in Romania in April 1997. Low wireless penetration in 2003 meant there was scope to grow in this space.
In 2004, MidEuropa exchanged its MobiFon stake for shares in TIW and the investment was sold to Vodafone in 2005.
Partnership highlights:
- Drew on experience in the segment gained from Orange Slovakia to enhance MobiFon’s management
- Achieved the fastest-ever launch of a greenfield GSM service
Value creation:
- Operational Excellence
- Organic Growth