National Regulatory Agency for Electronic Communications and Information Technology of the Republic of Moldova

At the request of the insolvency administrator of JV Eventis Mobile LLC, the National Regulatory Agency for Electronic Communications and Information Technology (ANRCETI - www.anrceti.md), by its Board decision, temporarily suspended the license for GSM cell mobile service provision of the given company for a further two-month term.

The administrator has reasoned the request by the measures of insurance applied by the Economic Court of Appeal by its ruling of 02.02.2010, admitting the application to initiate insolvency process of JV Eventis Mobile LLC. These measures provide that all corporate assets, licenses and other intangibles represent the debit, which, being accomplished, will serve as a source of debts recovery by creditors of JV Eventis Mobile.

The first decision to suspend the license was taken by the Agency on 13 February 2010, at the request of company management. Meanwhile, on April 7, 2010, the Economic Court of Appeal decision regarding the process of Eventis Mobile LLC bankruptcy entered into force, which also appointed the insolvency administrator. At the request of the insolvency administrator the Agency Board issued a second decision on temporary license suspension. These decisions were taken under Article. 20 of the Law on Regulating Entrepreneurial Activity by Licensing, No. 451-XV of July 30, 2001.

Previously, following an inspection of the company Eventis Mobile to verify compliance with license conditions, conducted in December 2009, the Agency found that the license holder did not meet its obligation to ensure, by the end of 2009, the 60% radio signal coverage rate of the population and operate at least 340 base stations. The company was warned and required to remove the deficiencies identified by presenting an action plan to overcome this situation. However, the management of Eventis Mobile failed to comply with the requirements, citing as a reason the lack of funds necessary to ensure quality and continuity of service provision.

JV Eventis Mobile obtained the license for mobile service provision in late 2006 and in December 2007 made the commercial launch of these services. The company paid a license fee of to eight million USD. Eventis Mobile became the fourth national mobile operator on the market after Orange Moldova, Moldcell and Moldtelecom. According to the latest statistical report submitted by JV Eventis Mobile to the Agency, last year the company registered a sales volume amounting to 7.5 million, having in late 2009 over 11,800 subscribers.

June 16, 2010