Makedonski Telekom

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Stonebridge Communications, a consortium of Hungarian-owned Matav (86.5%), SEEF (6.1%) and OTE's subsidiary Comote (7.4%), won the bidding for a 51% stake in fixed line monopoly telecommunications provider Maktel in January of 2001. The sponsors paid US$341.3 million for this controlling stake. The government retained a 47.125% stake, while the IFC helds a 1.875% shareholding. In 1998, the IFC had approved a US$50 million facility to the company - convertible bonds that would be turned on common shares by the time the company was privatized. In July 2003 Matav exercised a put option and bought 3.05% of Stonebridge Communications from SEEF for $25 million (Euro 21 million). In 2004 Matav bought the remaining SEEF shares for $27.4, increasing its stake in Stonebridge Communications to 92.6%. The Stonebridge Communications consortium had planned to invest US$241 million in the company's network over the two years following the acquisition. On 1 May 2008, AD Makedonski Telekomunikacii modified its legal name into Makedonski Telekom AD - Skopje. As of 2004, the company had over 600,000 fixed lines with a 98 percent digitalization rate and 800,000 mobile subscribers under the brand name Mobimak. The divested company had an exclusivity period of four years on fixed line telephony from January 2001 to December 2004. Makedonski telekomunikacii AD was granted exclusive rights in (a) Fixed Voice Telephony Services, Leased Line Services and (b) to construct, lease, own, develop, maintain and operate Fixed Public Telecommunication Networks until December 31, 2004. These exclusive rights included local, national and international long distance public fixed voice services independently of the technology used, including voice over Internet Protocol services. In 2006 MakTel repurchased 10% of its shares from the Government of Macedonia during a public tender issued for the sale of the Government shares for 60,900,000 Euro. As a result of this transaction, Magyar Telekom’s share of ownership increased from 51% to 56.67%. At the end of 2006, Maktel had 517000 fixed line connections and T-Mobile Macedonia had 945000 mobile connections. In 2008, T-mobile was awarded a 3G license by the Agency for Electronic Communications (AEK)for US$14.7 million (10 million euro). T-Mobile was the sole bidder for the three available 3G licenses. As of 2011, the shareholders' structure of the company was as follows: Stonebridge AD Skopje (51%), Macedonian government(34.81%). Makedonski Telecom - treasury shares (34.81%), IFC (1.88%), and Others (2.31)%. http://www.mt.com.mk/eng/ Also see 2006 annual report of Magyar Telekom Rt.(filed in the investor section) http://www.magyartelekom.hu/english/investorrelations/reports.vm 2007 capex corrected during 2008 update when more precise information was obtained from the Annual Report. Before, 2007 capex was an estimation based on the sponor's Annual Report. 2010 capex is estimated from Deutsche Telekom annual report. CAPEX for 2013 is not available yet from both annual report and global wireless intelligence. To follow up after release of AR2013. 2012: Wireless Intelligence 2010 and 2011 capex from 2011 annual report