UPDATE 1-Lehman and private investors buy Czech telcos

(Adds detail, background)

FRANKFURT, Nov 23 (Reuters) - Investment bank Lehman Brothers <LEH.N>, private equity firm Mid Europa and Abu Dhabi holding firm Al Bateen have acquired Czech telecoms company Radiokomunikace (CRa) and a 39.2 percent stake in T-Mobile Czech Republic, the buyers said on Thursday.

The deal would be partly funded with senior and mezzanine debt in the amount of 750 million euros ($973 million), the largest debt package to date for a Central European leveraged acquisition, in addition to a substantial equity contribution.

The full transaction price was not disclosed in the joint statement.

The three investors said CRa was the only national provider of TV and radio broadcast transmission services and a leading alternative provider of telecoms services in the Czech Republic.

T-Mobile Czech Republic, which will remain majority owned by Deutsche Telekom <DTEGn.DE> unit T-Mobile, is market leader in the country with approximately 4.8 million subscribers, they added.

"This is a landmark transaction as the largest central European buy-out to date, and we are pleased to be returning to the Czech telecommunications market," Graig Butcher, partner in Mid Europa, said in the statement.

((Reporting by Marie-Louise Moller, editing by Will Waterman; marie-louise.moller@reuters.com; Reuters Messaging: marie-louise.moller.reuters.com@reuters.net; +49 69 7565 1214)) ($1=.7708 Euro)

Keywords: TELECOMS LEHMAN