White & Case has advised Falcon Group, a consortium of investors 75 per cent controlled by funds managed by Mid Europa Partners, on the sale of its EUR828m stake in T-Mobile Czech Republic to Deutsche Telekom.
The deal is expected to close by the end of February.
Budapest-based White & Case partner Rob Irving, co-head of the firm’s EMEA private equity practice, says: “We are very pleased to advise Mid Europa and Falcon Group generally on this successful exit. This is the culmination of more than three years of work for Falcon Group, including the EUR574m sale of Ceske Radiokomunikace to Macquarie Group in 2011 and EUR365m leveraged recapitalisation of Falcon Group in 2012.”
Since Mid Europa’s original acquisition during 2006 of the stake in T-Mobile Czech Republic, the company has become the country’s market leader in mobile communication services, growing to more than 5.8 million subscribers and diversifying into fixed line and business-to-business services.
