Bulgarian company Albania Telecom Invest AD has concluded an agreement to buy Telekom Albania, the second biggest telecommunication company in the country.
Telekom Albania was owned in full by OTE Group (Hellenic Telecommunications Organisation), which sold 99.79 per cent of its shares for €50 million following months of negotiations, OTE announced today.
Albania Telecom Invest AD is owned by Bulgarian citizen Spas Roussev and Albanian-Bulgarian investor Elvin Guri, according to the announcement. Roussev is the company’s controlling shareholder.
The final transaction is expected to be completed within the first half of 2019.
Spas Roussev is the main shareholder of Vivacom, one of the biggest telecommunication companies in Bulgaria.
Several months earlier Telecom Serbia had announced its interest to buy Telekom Albania. Prime Minister Edi Rama and officials of the Ministry of Infrastructure and Energy said that offers by Serbian companies would not be accepted.
“Serbian businesses are welcome in Albania but in this strategic sector they are not our favorite,” said Rama in October, 2018.
