Yettel D.O.O. (Serbia)

Telenor D.O.O., based in the capital Belgrade, is a Serbian mobile operator. The company offers mobile and Internet services to individual and business clients. It manages more than 100 stores across the country. Telenor Serbia has around 3.2 million subscribers.
Telenor D.O.O., previously named Mobtel, was set up in 1994 as a 51/49 joint venture between Moscow-based BK Trade controlled by media-to-telecoms tycoon Bogoljub Karic and Serbia's state-owned post office PTT. In mid-May 2005, Bogoljub Karic sold his 51% in the operator to a group of Austrian investors, led by industrialists Martin Schlaff, Josef Taus and Herbert Cordt.
In December 2005, the Serbian government stripped Mobtel of its operating licence over alleged illegal business dealings in Kosovo.
The state gained control over the operator in January 2006 after assuming the company's debt of EUR 162.7 million owed to Austria's Hypo Alpe-Adria Bank and Raiffeisenbank. In April 2006, the Serbian government signed an agreement with a group of Austrian investors to transform Mobtel into a new company, Mobi 63, which inherited the customers and the assets of Mobtel. The state held 70% while the Austrian investors controlled 30% of the mobile phone company.
In July 2006, Norwegian telecoms group Telenor won a state-organised auction to buy Mobi 63 for EUR 1.51 billion. Telenor bought all the assets of Mobi 63 and also a renewable licence for providing mobile phone and third generation high-speed wireless services for a 10 year period. In August 2006, the mobile phone operator was renamed into Telenor d.o.o.