Mobifon
Country: Romania
Industry: Wireless
Initial Investment Date: March 2003
Fund: Fund I
Website:www.connex.ro and www.tiw.ca
In early 2003 Mid Europa acquired a stake in MobiFon which at the time was already a leading mobile communications provider in Romania with approximately 5 million subscribers, having launched the first GSM network in Romania in April 1997, operating under the trademark Connex.
In March 2004, Fund I exchanged its MobiFon stake for shares in Telesystem International Wireless, Inc. (TIW) and partially exited the MobiFon investment through a secondary offering. Subsequently, with Fund I acting as a key member of TIW's control block, the investment was sold to Vodafone in March 2005.