Telekom Austria, which last month paid out more than €1bn in the Austrian LTE spectrum auction, has reported a drop in third quarter profit of almost 50 per cent. Net income for the period was €52.13m, down 48.3 per cent year on year from €99.2m, while revenue declined 5.3 per cent to €1.04bn.
Telekom Austria announced that it will acquire the remaining 30 per cent of SB Telecom, the sole owner of Belarusian carrier Velcom, that it does not already own. The total purchase price for the remaining 30 per cent stake amounts to €335m. This transaction will increase Telekom Austria’s stake in Velcom to 100 per cent.
On Thursday, Telekom Austria’s Belarusian subsidiary Velcom announced the commercial launch of 3G HSPA+ in Minsk and Gomel.
Telekom Austria said Wednesday that its majority owned Belarusian mobile subsidiary, Velcom, has been granted a countrywide UMTS license for a price of €9.5m.
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