Two shortlisted for GSM licence

14 Oct 2003

Cypriot telecoms regulator Vassos Pyrgos has announced that two companies will be competing for the country’s first private GSM licence in an auction at the end of the month. Local companies Scancom and Cosmote Telecommunications, a subsidiary of the Greek telco of the same name, will vie for the 20-year concession, with the starting price set at CYP5.7 million (USD11.4 million). A third company, Atlantic Crest Investment, linked to Monaco Telecom, did not make the shortlist.