OTE completes sale of Telekom Albania

10 May 2019

Greece’s OTE Group has completed the sale of its 99.76% stake in Albanian cellco Telekom Albania to Albania Telecom Invest (ATI) for a total gross equity consideration of EUR50 million (USD56 million). ATI is controlled by Bulgarian businessman Spas Roussev – the controlling shareholder of Bulgarian fixed line incumbent Vivacom (registered as Bulgarian Telecommunications Company or BTC) – and by Albanian-Bulgarian investor Elvin Guri. In a statement from Telekom Albania, Mr Guri was quoted as saying: ‘Telekom Albania will further increase its commitment to implement technology innovations on Albania market that will help consumers and businesses.’ The new owners have not stated whether the cellco will retain the ‘Telekom’ branding of its former parent company Deutsche Telekom (DT) – DT holds a 45% stake in OTE – going forward.

Albania, OTE Group, Telekom Albania, Vivacom (BTC)