Eurotel has become a member of the Starmap alliance, which includes O2 (UK, Germany, Ireland), Amena (Spain), Pannon GSM (Hungary), Sonofon (Denmark), One (Austria), Wind (Italy), Sunrise (Switzerland) and Telenor Mobil (Norway). Eurotel should benefit from joint purchases of mobile phones, and cooperation in roaming, sales and marketing initiatives.
Separately, CT repeated that it will start selling some of its real estate, of a book value of CZK 10 bn. According to earlier information the market value of the real estate may reach some CZK 20 bn. Assuming a 26% tax rate (expected to come into effect as of January 2005), CT would book net income of CZK 7.4 bn or CZK 23 per share. CT plans to sell mainly administrative buildings in order to free some cash and lower costs and increase operating efficiency. The company may rent back some of the premises and is considering building a new HQ.
Tomáš Gatěk