Telenor Serbia

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Telenor ASA, a Norwegian telecommunication company, acquired Mobi 63, a Serbian government owned cellular company, from Serbia government. Telenor acquired 100 per cent of Mobi 63 after an auction in Serbia on July 31, 2006 for a total of EUR 1.513 billion or USD 1.919 billion. The auction process took eight rounds before Telenor outbid Mobikom of Austria, Orascom of Egypt and a consortium of Austrian investors to take control of Mobi 063. The acquisition implied a 10-year licence for GSM 900/1800 and 3G operation for the company, subsequently renewable for a successive 10 year period on application. The financial closure was reached on August 2006 when Telenor ASA completed all the legal requirements as stipulated in Sales Purchase Agreement. Mobi 63 was initially called Mobtel, a private cellular company owned by Bogoljub Karic. The government of Serbia suspended and took over Mobtel operation in January 2006 following claims that Mr. Karic breached licence terms and damaged national security by ceding control of wireless operations in Kosovo to Mobikos, a company owned by Kosovan businessman Ekrem Luka. Government of Serbia gave the control of Mobtel to Telekom Serbia, which in turn changed Mobtel's name to Mobi 63. 2007 capex is an estimation calculated based on the information obtained from the sponsor's 2007 annual report. Capex 2013: Wireless Intelligence