Mid Europa Partners and France Telecom have agreed to acquire 100 per cent of Austrian mobile operator One from its existing shareholders for an enterprise value of about EUR1.4bn.
Mid Europa Partners and France Telecom have agreed to acquire 100 per cent of Austrian mobile operator One from its existing shareholders for an enterprise value of about EUR1.4bn.
This transaction, expected to close within the next three months, will be the largest industrial leveraged buy-out in Austria to date. Mid Europa will own a 65 per cent controlling stake in One, the third-ranking mobile operator in Austria with two million subscribers, with France Telecom owning the balance.
Says Mid Europe managing partner Thierry Baudon: ‘We are delighted to acquire this high quality asset in close partnership with France Telecom and welcome this unique opportunity to combine the strong industrial skills of a leading telecom operator with our value creation focus and regional knowledge.
‘This will be our sixth investment in mobile telephony in the central European region. Mid Europa and France Telecom are determined to provide strong shareholder support to enhance the market position and performance of the company in the coming years.
‘This transaction, executed by Ioana Bendixson, Nikolaus Bethlen, Barna Papay, and Matthew Strassberg within the Mid Europa team, is further proof of our capacity to implement complex and innovative transactions in central Europe.’
Adds Bethlen: ‘The acquisition of One is consistent with our strategy to broaden our central European reach and opportunistically target leading companies in the neighbouring markets of our core investment region, such as Austria.’
