Equity group gets minority stake in Czech unit of T-Mobile

An international private equity consortium of Lehman Brothers, Mid Europa Partners and Al Bateen Investment has acquired a minority stake in the Czech unit of T-Mobile International, an Associated Press report said.

The Associated Press report said the consortium acquired the 39.2% stake in the T-Mobile Czech Republic by buying the 100% share in Czech telecommunications company Radiokomunikace, said Linklaters law firm, which advised the consortium.

The deal was worth 1.2 billion euros ($1.55 billion), it said.

Germany's Deutsche Telekom holds a majority stake in the Czech T-Mobile through its cell phone unit T-Mobile International.

Lehman Brothers confirmed the transaction in a statement, the report said.

Radiokomunikace is among the country's major telecommunications companies and it also operates a network of television and radio signal transmitters.