Executive Director of SB Telecom Ltd. on Vlecom issues, Helmut Duhs, reported that by the end of this year, Telekom Austria will buy the remaining 30% of the second largest Belarusian mobile operator, Velcom. Thus, Austrian company will own the entire holding of shares of Belarusian mobile operator.
«I think that the deal will be completed — payment of the remaining value is largely dependent on Velcom financial results. Since our company was hit hard by the devaluation of Belarusian ruble last year, the part of the value, which we oriented on, to be paid later. I believe that this transaction will be completed legally this year», PRIME-TASS quotes the words of Helmut Duhs.
Now, 30% of Velcom is owned by Cypriot company SB Telecom. Previously, chief financial director and deputy chairman of the board of Telekom Austria, Hans Tschuden, suggested that Telekom Austria will have not completed payment of 100 million euro for 30% of Velcom shares to Cypriot SB Telecom till the end of this year, General cost of the remaining share of Velcom mobile operator was estimated by Tschuden at 600 million euro, adding that it depends on the financial results of the company.
As Telegraf previously reported, the number of Velcom’s subscribers reached 4.1 million in 2009, operator’s market share was 42.7%, penetration increased to 99.4%, operator’s receipts are equal to 1.169 billion rubles, EBITDA — 584.59 million rubles, informed the executive director of SB Telecom Ltd. on Velcom issues, Helmut Duhs.
