Albtelecom privatisation process to begin by end 2006

16 Jun 2006

Albanian Economy Minister Genc Ruli has revealed that the privatisation of up to 80% of Albtelecom will begin by the end of 2006; the shares will placed on the market through an international tender. The move signals a change of direction from the Albanian government, and follows a failed takeover of the company last year. Calik Eneriji Telekom, a joint venture between a Turkish power utility company and Turk Telekom, agreed to pay USD144 million for a 76% stake, only for the sale to be cancelled in October 2005 when the government claimed the process was against national legislation and not in the interest of the country.

Albania, ALBtelecom