Greece's OTE Agrees to Sell Telekom Albania for 50 Mln Euro
Thursday, 17 January 2019
Greece's OTE group said on Wednesday it has entered into an agreement to sell its entire stake in Telekom Albania to Bulgarian company Albania Telecom Invest for a total consideration of 50 million euro. “Albania Telecom Invest AD is controlled by Mr. Spas Roussev, controlling shareholder of the Bulgarian incumbent telecom operator Vivacom, and by Mr. Elvin Guri, an Albania-Bulgarian investor,” OTE said in a press release emailed to SeeNews. The transaction is expected to be closed within the first half of 2019. The agreement will be subject to the customary closing conditions, including the approval by the competent local authorities and financing.