Mid Europa acquired its interest in Oskar Mobil at the time the third GSM licence was auctioned to TIW in 1999. The company launched service in March 2000 and became one of the fastest growing wireless operators in Central and Eastern Europe, becoming EBITDA positive in early 2002.

In March 2004, Fund I exchanged its Oskar stake for shares in Telesystem International Wireless, Inc. (TIW) and partially exited the Oskar 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.

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