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Technology Stocks : Vodafone (VOD)

VOD 15.25

+2.2%

Feb 3 3:59 PM EST

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To: MrGreenJeans who wrote (102)	6/15/1999 7:17:00 AM
From: David Wiggins	Read Replies (1) of 109

AirTouch-RWE wins Hungary mobile BUDAPEST, June 15 (Reuters) - The U.S.-German Primatel consortium of AirTouch (NYSE:ATI - news) and RWE (quote from Yahoo! UK & Ireland: RWEG.F) has won a 15-year mobile license in Hungary, the ministry for transport, telecommunications and water management said on Tuesday. The Primatel consortium won with a bid of 48.5 billion forints, Minister Katona Kalman said in a statement. In second place was the consortium of CGSat and Mannesmann (quote from Yahoo! UK & Ireland: MMNG.F), followed by Orange(quote from Yahoo! UK & Ireland: ORA.L)-Callahan Associates International in third place. The ministry set the minimum concession fee for the 15-year license at 5.5 billion forints ($25.40 million). The winner of the tender is expected to spend upward of $500 million to develop the DCS 1800 mobile phone network. Airtouch and RWE Telliance will be the third mobile phone operator in Hungary in addition to Westel and Pannon GSM. RWE Energie has already invested more than 1 billion marks ($531.3 million) in Hungarian electricity generation and distribution firms through privatisation. The consortium will be obligated to operate the company together with Hungarian broadcaster Antenna Hungaria and state-owned Hungarian Post, which together would hold a 25 percent plus one share stake in the company. Hungary, with a population of about 10 million, has about 1.1 million cellular subscribers and analysts expect the penetration rate to reach about 25 percent by 2004. ($1=216.47 Forint) ($1 equals 1.882 Mark) --------------------------------------------------------------------------------

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