E-Plus to buy MobilCom

May 6, 2003

Geman mobile operator E-Plus has reached an agreement with MobilCom to take over its 3G network, for as little as E20m, according to a report in the German edition of the Financial Times.

The company will take over the network after waiving its dispute over a national roaming service contract, worth around E600m that the troubled operator couldn’t honour.

The purchase will establish E-Plus as the country’s third largest mobile operator, covering roughly 17 per cent of the German population.

Indian investment firm Hinduja Group had expressed interest in the 3G wireless activities but a sources close to the supervisory board said "the firm was not interested in buying Mobilcom's 3G assets".

MobilCom needs a quick sale of the network as France Telecom, which owns 28.5% of MobilCom, has agreed to pay for the cost of freezing 3G only for this year.

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last updated: January 12, 2004

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E-Plus to buy MobilCom

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