Euro Land Grab

10:00 AM -- If you're looking for a late summer bargain, check out the current carrier asset sale in Central and Eastern Europe (CEE).

Reports from continental Europe suggest that Deutsche Telekom AG (NYSE: DT) is trying to strengthen its grip on the Central and East European services market.

According to the Financial Times Deutschland, the German giant is using some its existing regional assets, Croatia's Hrvatski Telekom and Magyar Telekom plc , to bid for a stake in Slovenian incumbent Telekom Slovenije . (See Telekom Slovenije Reports H1 and Slovenia Snacks on Fiber Diet.)

Check out this report from Thomson Financial .

Meanwhile, the Croatian government is selling a 32.5 percent stake in Hrvatski Telekom by means of an IPO. Deutsche Telekom owns a majority 51 percent holding in the Croatian incumbent.

See details of the offer here.

And while we're on the topic of M&A in CEE, Telekom Austria AG (NYSE: TKA; Vienna: TKA) has invested in a majority stake in Belarusian mobile operator MDC. (See Telekom Austria Buys MDC Stake.)

Belarus, in case you are wondering, is a country of about 10 million people to the east of Poland.

— Ray Le Maistre, "Don't Mention the War," Light Reading

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