Stet hellas acquires umts license successfully places minimum bid of grd 50bn athens

STET Hellas Telecommunications SA (NASDAQ: STHLY; Amsterdam: STHLS) today announced that it successfully bid for a 3rd generation mobile telephony license in Greece. STET Hellas was awarded the requested 2x10MHz + 5MHz (unpaired) 3G spectrum at the minimum price of GRD 50 billion (EUR 146,735,169), as well as 2x5MHz in the DCS 1800 band for 2G services at a price of GRD 9 billion (EUR 26,412,331). Acquiring a 3G license, STET Hellas is keeping abreast of the developments in the mobile environment, enabling the development of an extensive range of new services such as mobile multimedia messaging and video telephony. With the DCS 1800 band, STET Hellas increases capacity for mobile data on its existing 2G network, enabling improved network quality and securing the provision of GPRS services. “STET Hellas opted for a basic UMTS license of 2x10 MHz + 5 MHz unpaired spectrum. We believe this to be the most sound business choice based on actually forecasted traffic demand outlook,” said STET Hellas’ Managing Director and CEO, Mr. Nikolaos Varsakis. “The acquired licenses will enable STET Hellas to continue providing its customers new and innovative mobile services, thus materializing on the opportunities in a continuous changing mobile environment.”

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