Meteor may be spun off by its US-based parent, Western Wireless, later this year as part of an initial public offering of the company's international division. Mr John Stanton, Western Wireless chief executive, recently told analysts that management was seriously considering "a spin-off of Western Wireless International".
Western Wireless International is a division which has mobile operations in Austria, Ireland, Slovenia, Georgia, Ghana, Côte d'Ivoire, Bolivia, and Haiti.
The unit recently reported better-than-expected 2003 results and achieved its first full year of positive earnings before interest, tax, amortisation and depreciation of $24.5 million (20.1 million).
Mr Stanton recently said that the international division was generating about a third of the Western Wireless's overall revenues.
"The need to attain full control of all its international companies is believed to be one of the key reasons that Western Wireless recently bought George Soros's 18 per cent stake in Meteor. In his briefing, Mr Stanton said the stake had cost $30 million.
