Euronet Worldwide Inc., a processor of automatic-teller machine transactions, bought a Romanian provider of prepaid cellular phone airtime to enter a country where most mobile-phone customers use such services.
Euronet, of Leawood, Kansas, bought the unit from privately held Brodos AG of Germany, Euronet said in a statement today, without disclosing terms of the purchase. Shruthi Dyapaiah, Euronet's spokeswoman, declined to comment beyond the statement. Euronet already provides prepaid phone services in the US, UK, Germany and Australia, among other countries, according to its Web site. About 70% of Romanians have mobile phones and more than 60% of those use prepaid accounts, the company said. Shares of Euronet fell 3 cents to $28.60 in Nasdaq Stock Exchange composite trading before the announcement. The shares have declined 13% in the past year. (Bloomberg)