German telecoms giant Deutsche Telekom said on Monday it will acquire the 39 percent it does not already own in its Czech subsidiary for 800 million euros ($1.1 billion).
"Deutsche Telekom is acquiring the remaining 39.23-percent stake of T-Mobile Czech Republic for a purchase price of 0.8 billion euros," the group said in a statement.
The shares are currently owned by a consortium of investors led by funds managed or advised by private equity group Mid Europa Partners.
The move was a "natural step towards optimizing our portfolio and supports our transformation into the leading integrated Pan-European operator," said board member Claudia Nemat.
"The Czech Republic is an important market for Deutsche Telekom due to its size and structure," Nemat added.
German telecoms giant Deutsche Telekom said on Monday it will acquire the 39 percent it does not already own in its Czech subsidiary for 800 million euros ($1.1 billion).
“Deutsche Telekom is acquiring the remaining 39.23-percent stake of T-Mobile Czech Republic for a purchase price of 0.8 billion euros,” the group said in a statement.
The shares are currently owned by a consortium of investors led by funds managed or advised by private equity group Mid Europa Partners.
The move was a “natural step towards optimizing our portfolio and supports our transformation into the leading integrated Pan-European operator,” said board member Claudia Nemat.
“The Czech Republic is an important market for Deutsche Telekom due to its size and structure,” Nemat added.
