Deutsche Telekom on Monday agreed an €800 million deal to acquire the 39.23% of its T-Mobile Czech arm that it doesn't already own.
The shares are currently owned by a consortium of investors led by private equity group Mid Europa Partners. Deutsche Telekom said the deal is not subject to regulatory approvals and the transaction will have no impact on group revenue and EBITDA since T-Mobile Czech is already a fully consolidated subsidiary.
"The acquisition of the remaining shares is a natural step towards optimising our portfolio and supports our transformation into the leading integrated pan-European operator," said Claudia Nemat, Deutsche Telekom's board member for Europe, in a statement.
In November, Deutsche Telekom paid €546 million for GTS Central Europe, adding fixed-line networks to its operations in the Czech Republic and Poland. It plans to combine GTS's Czech assets with those of T-Systems.
"With the ongoing integration of T-Systems Czech Republic and the planned combination with the Czech operations of GTS Group, T-Mobile Czech Republic is on a clear strategic path to enhance its fixed-line capabilities and foster its market position in B2B," said Nemat.
In November, Deutsche Telekom paid €94.9 million for LTE frequencies. Its major local rivals Vodafone and Telefonica also won spectrum, paying €113 million and €101.8 million respectively. The latter is has agreed to sell its 65.9% stake in its Czech arm to PPF Group for €2.47 billion.
Monday's news follows Deutsche Telekom's announcement two weeks ago that it plans to invest €1.2 billion into its Greek arm OTE, which new CEO Timotheus Höttges said will form an important cornerstone of its European footprint.