Telekom Austria has paid €80mn as option price under the call option agreement concluded in December 2004 to purchase Bulgarian wireless operator MobilTel AD.

The payment occurs in accordance with the timetable announced at the time of the signing of the call option agreement and following the timely delivery of the audited financial statement for MobilTel AD for the financial year 2004. "The payment of the call option price is another important step towards the acquisition of MobilTel AD", said Heinz Sundt, ceo of Telekom Austria.

The call option gives Telekom Austria Group the unilateral and irrevocable right to purchase 100% of the share capital of MobilTel AD for a total enterprise value of around €1,600mn in 2005. "The payment of the call option price confirms Telekom Austria Group’s positive view of MobilTel, the leading mobile operator in Bulgaria, and supports our strategy of expansion in South-Eastern Europe", said Boris Nemsic, ceo mobilkom austria and coo Wireless Telekom Austria.

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