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TIRANA (Albania), March 26 (SeeNews) – Albania's electronic and postal communications authority, AKEP, said it has granted a preliminary approval for the sale of 99.757% interest in Telekom Albania held by Greece’s OTE group to Bulgarian company Albania Telecom Invest.
The agreement will be also subject to approval by Albania’s competition authority, AKEP said in a statement on Monday.
In January, OTE said it has entered into an agreement to sell its entire stake in Telekom Albania to Albania Telecom Invest for a total consideration of 50 million euro ($56.5 million).
“Albania Telecom Invest AD is controlled by Mr. Spas Roussev, controlling shareholder of the Bulgarian incumbent telecom operator Vivacom, and by Mr. Elvin Guri, an Albania-Bulgarian investor,” OTE said in January.
The transaction is expected to be closed within the first half of 2019, OTE said.
Telekom Albania, whose majority shareholder is OTE, Deutsche Telekom's subsidiary in Greece, operated as Albanian Mobile Communications (AMC) until July 2015. The company was acquired by OTE Group in 2000. In 2009, with Deutsche Telekom's acquisition of OTE, it indirectly became part of Deutsche Telekom.