S&P: Oskar Mobil, parent on watch positive

Standard & Poor's said it placed its B long-term corporate credit ratings on Oskar Mobil as and parent Oskar Holdings NV on CreditWatch positive following the announced agreement between Telesystem International Wireless Inc. (B+/Watch Positive/--) and Vodafone Group plc (A/Stable/A-1).

Telesystem and Vodafone have entered into a definitive agreement whereby Vodafone will purchase Telesystem's 100% ownership interest in Oskar Mobil as through interim holding company Clearwave NV.

The degree of implied or actual credit support for Oskar from Vodafone is unclear at present; however, S&P said it views this as a positive credit event for Oskar.

Vodafone's purchase of the company is based on strategic as well as financial considerations as it expands the company's wireless footprint in central Europe, according to S&P.

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