Consortium Wins Montenegro License Bid
Tuesday March 13, 3:12 pm ET
Consortium Wins Bid for Third Mobile Phone License in Montenegro


PODGORICA, Montenegro (AP) -- A consortium of Serbia's state-run Telekom and a Dutch private company, has won a bid for Montenegro's third mobile phone license, the tiny republic's authorities said Tuesday.
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Telekom Srbija and Netherlands-based Ogalar will pay euro16 million (US$21.15 million) for the 15-year license, said Montenegrin Telecommunications Agency.

Montenegro already has two mobile phone companies operating in the Adriatic republic of just over 600,000 people -- ProMonte, owned by Telenor ASA of Norway, and Monet, majority-owned by the Hungary-based Matav Rt.

The two mobile phone providers are the most profitable companies in the cash-strapped Balkan republic, which has more "registered mobile phones than citizens"!!!!!!.

Montenegrin telecommunications agency said that the new mobile phone operator has one month to form a Montenegrin affiliate and pay for the license. The new company also has promised to invest more than euro90 million ($118.96 million) in Montenegro, the agency added.

Montenegro and Serbia used to form a joint country until Montenegro split last year to become an independent state.