The merger of Georgian mobile operator Geocell and SilkNet, the country’s largest fixed voice provider by subscribers, has been completed. Geocell’s website confirms that from 1 November 2018 Geocell has ceased to exist as a separate legal entity, although Geocell-branded mobile services will continue under the newly enlarged SilkNet group.
As previously reported by TeleGeography’s CommsUpdate, in March 2018 Fintur Holdings, jointly owned by Telia Company and Turkcell, completed the sale of 100% of its holding in Geocell to SilkNet for USD153 million. The deal was first announced in January and subsequently received approval from all relevant regulatory authorities. Under the terms of the transaction, Fintur’s Turkish subsidiary Gurtel Telekomunikasyon Yatirim ve Dis Ticaret (Gurtel) divested its 100% holding in Geocell to SilkNet. Gurtel is owned by Fintur (99.9%) and four minority shareholders.