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Mid Europa exits T-Mobile Czech Republic in €828m deal

10 Feb 2014

Falcon Group, a consortium of investors 75 per cent controlled by CEE-focused private equity firm Mid Europa Partners to sell its entire 39.23 per cent stake in T-Mobile Czech Republic, to Deutsche Telekom for €828m.

T-Mobile Czech Republic provides nationwide mobile telecommunications services in the Czech Republic, alongside combined fixed, mobile and IT solutions to individual and business customers.

Nikolaus Bethlen, partner of Mid Europa, said, “We are delighted to announce another successful exit for Mid Europa. Since our original acquisition of the stake in the company in 2006, TMCZ has become the market leader in mobile communication services in the Czech Republic, growing to more than 5.8 million subscribers and successfully diversifying into fixed line and B2B services. We would like to thank everyone at TMCZ for their contribution and achievements over the past several years and wish them continued success.”

Robert Chmelar, associate director of Mid Europa, added, “The successful sale of our stake in TMCZ is yet another landmark deal executed by Mid Europa in the Czech Republic, which continues to be one of the core markets for our firm.”

Operating from London, Budapest, Warsaw and Istanbul, Mid Europa Partners advises and manages funds of approximately €4 billion in aggregate. The firm was recently said to have lowered the hard cap of its latest buyout fund to €850m following concerns from investors as to the potential deal flow in the region. Towards the close of 2013 the fund was reported to have reached the half-way point for the initial €1bn target.

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