Top European alternative telecoms group Tele2 said on July 14 it would pay 257 million euros to buy Spanish operator Comunitel from majority owner Oni Group of Portugal.
"This acquisition is funded from Tele2's existing cash resources and bank facilities," the group said in a statement.
It said that at the end of 2004 Comunitel had 76,400 active customers, revenues of 174 million euros and EBITDA of 11 million euros.
Oni is controlled by Portuguese power utility EDP.