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August 12, 1997updated 03 Sep 2016 12:37pm

TELE DANMARK EXPANDS WITH STAKE IN CZECH COMPANY

By CBR Staff Writer

Tele Danmark A/S, the former state-owned national Danish telecommunications company, has paid the equivalent of $54m for a 20.8% stake in Ceske Radiokomunikace (CRK), a private telecommunications company founded in the Czech Republic in 1994. CRK is involved in television and radio transmission as well as fixed and mobile telephony. The company is also the majority stake holder in Radiomobil, one of the Czech Republic’s two mobile phone operators. Tele Danmark said in April that it expected to make losses of up to $150m this year (against $482m of profit last year) due to tough new government rules which will cap the price it can charge for interconnect deals with competitors. Shares in Tele Danmark were unchanged at $28.

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