Telenor Buys Mobi 63

FORNEBU, Norway and BELGRADE, Serbia -- Telenor has won the auction in Serbia for a 100 per cent share of mobile operator Mobi 63, one of two mobile operations in Serbia.

The winning bid of EUR 1,513 million, secures a 100 per cent share of Mobi 63, and a 10 year licence for GSM 900/1800 and 3G operation for the company, subsequently renewable for a successive 10 year period on application.

"We are naturally excited at expanding our footprint and adding this new company to the Telenor Group. Serbia has long been an interesting market for us. Telenor first entered the Balkan region more than 10 years ago and we currently have mobile operations in a number of neighbouring countries. The acquisition of Mobi 63 will allow us to further our aim of creating a strong Telenor operational hub in this prioritised geographical area with long-term synergies across the companies," said Jon Fredrik Baksaas, President and CEO, Telenor.

Telenor Group (Nasdaq: TELN)