Source: Tanjug | Thursday, 17.01.2019.| 12:49

Bulgarian company to buy Telekom Albania for EUR 50 million – Telekom Srbija gives better offer

Illustration (Photo: Kengphotographer/shutterstock.com)
The Bulgarian company Albania Telecom Invest AD will buy the Albanian company Telekom Albania Sh.A. from the Greek telecom company OTE.

Telecom Invest AD is controlled by Spas Roussev, controlling shareholder of the Bulgarian incumbent telecom operator Vivacom, and by Elvin Guri, an Albanian-Bulgarian Investor, announced Deutsche Telekom, which owns the Albanian company through OTE.

Among other companies, Telekom Srbija was also interested in purchasing the second biggest mobile phone operator in Albania.

As media reported earlier, financially, Telekom Srbija’s offer was the best one, amounting to around EUR 60 million, but Albanian Prime Minister Edi Rama said in October 2018 that it was not the Albanian government’s preferred purchaser. Rama said that his government didn’t usually take part in private transaction, but that he wanted to express his opinion given that the market in question is a “strategic sector”.

In addition to Telekom Srbija, bids for Telekom Albania, which has around 1.8 million users, that is, a 33% market share, were also submitted by Turkish Eagle Mobile and a Greek family consortium.

OTE’s Chairman and CEO, Mr. Michael Tsamaz, noted that “the sale of Telekom Albania concludes the successful investment in Albania for OTE Group”.

– It is a strategic decision, in the context of OTE Group’s redefined priorities and growth plans, in order to create value for all shareholders and support sustainable development – Tsamaz said.

He thanked Telekom Albania’s management and employees for the company’s accomplishments to date, as well as for their sound cooperation with OTE Group.

– The acquisition of the company by a strong and entrepreneurial investment group ensures its growth and creates the conditions to further strengthen its market position – Tsamaz said.

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