Albtelecom secures USD159 million in loans

21 Apr 2008

Albtelecom said confirmed that it has signed a EUR100 million (USD159 million) loan from two banks to upgrade its network and increase capacity. The company said it is borrowing EUR75 million from the European Bank for Reconstruction and Development (EBRD) and EUR25 million from the Black Sea Bank for Reconstruction and Development. According to TeleGeography’s GlobalComms database, Albtelecom is owned by the Albanian Government (24%) and by CT Tel (76%). CT Tel is owned by the Turkey’s Calik Holdings Group (80%) and Turk Telecom (20%).

Albania, ALBtelecom