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TIRANA (Albania), April 12 (SeeNews) – Albania's competition authority said on Friday it has approved the sale of 99.757% interest in Telekom Albania held by Greece’s OTE group to Bulgarian company Albania Telecom Invest.
The competition authority has endorsed the agreement for concentration in Albania's telecommunications market, it said in a statement.
In March, the agreement was approved by Albania's electronic and postal communications authority, AKEP.
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 ($56.3 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 at the time.
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.