Mobilkom Austria bids to take control of Telekom Montenegro

Telekom Austria announced yesterday that its wireless division, Mobilkom Austria, has submitted an offer for the purchase of a majority stake in Telekom Montenegro.~ ~ With a population of just 670,000 people, the small Balkan country has a mobile penetration level of 57 per cent, with Telekom Montenegro enjoying a 43 per cent market share.~ ~ Telekom Montenegro is currently 51 per cent owned by the Republic of Montenegro, the remaining shares are held by local private shareholders and institutions. The government of Montenegro recently said that it wants to dispose of its stake in the company, for the right price. A decision is expected early 2005.~ ~ Mobilkom Austria currently serves around three million wireless users in its home market, and has focused its international expansion plans on the South-East Europe region.~