(Associated Press via NewsEdge) An international private equity consortium of Lehman Brothers, Mid Europa Partners and Al Bateen Investment has acquired a minority stake in the Czech unit of T-Mobile International.
The consortium acquired the 39.2% stake in the T-Mobile Czech Republic by buying the 100% share in Czech telecommunications company Radiokomunikace, said Linklaters law firm, which advised the consortium.
The deal was worth 1.2 billion euros ($1.55 billion), it said.
Germany's Deutsche Telekom holds a majority stake in the Czech T-Mobile through its cell phone unit T-Mobile International.
Lehman Brothers confirmed the transaction in a statement.
Radiokomunikace is among the country's major telecommunications companies and it also operates a network of television and radio signal transmitters.
The Czech T-Mobile is among of the country's two biggest mobile phone operators together with Telefonica O2 Czech Republic, a unit of Spain's Telefonica SA.
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