Mobilcom Frees Itself From 3G

May 13, 2003 - source: BWCS

After a lengthy search for a buyer for its 3G network, Mobilcom has found one right on its doorstep. The German mobile operator, which narrowly avoided bankruptcy last year, will sell its 3,723 UMTS sites to rival German mobile company E-Plus.

The agreement releases Mobilcom from all of its coverage obligations - contained in the original licence agreement. E-Plus will receive an immediate boost to its own 3G plans, with some 931 of Mobilcom’s sites said to be already fitted with 3G base stations. A further 2,000 sites have plans drawn up and are ready for equipment installation.

Whilst both sides were being coy about the terms of the deal, which still awaits the approval of the German Federal Cartel Board, it is believed that E-Plus paid around Euro20 million. It is understood that France Telecom, Mobilcom’s long-term backer, will receive some Euro18 million.

Putting an optimistic spin on the sale, Mobilcom CEO Thorsten Grenz said: "After this, we now have a clear strategic position and can concentrate on our core business as a 'provider of mobile phone services."

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