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Telecoms (Mobile) | Romania
Initial investment date: July 1998

Realisation date: July 2005

Trade: Mobile Telephony

Business description:
Mobifon was formed to operate GSM cellular services in Romania, holding one of two national GSM licences in the country. During the period of GMT's investment, Mobifon was the market leader with five million subscribers, operating under the brand name Connex, and its objective was to maintain and expand its edge both in terms of revenue and market share. In September 2004, GMT rolled up its stake in Mobifon into TIW, the listed Central and Eastern European Mobile operator. Mobifon distinguished itself by achieving the fastest-ever launch of a greenfield GSM service, and was particularly strong at penetrating a country with underdeveloped fixed-line communications infrastructure. The initial investment was made in July 1998, TIW was sold to Vodafone in July 2005.

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