Kosovo Telecom gets 15 new cell towers to expand reach

The investment valued at a total of 900,000 euro ($984,000) involves the installation of 30 new base stations provided by Croatian telecommunications equipment manufacturer Ericsson Nicola Tesla [ZSE:ERNT], Rizvanolli said in a social media post.

The new installations have increased the number of the company's base stations in the northern regions to 20, Kosovo's prime minister Albin Kurti said in a separate social media post.

In January, Ericsson Nikola Tesla said it signed a multi-year framework agreement worth 15 million euro ($16.3 million) with Kosovo Telecom, which includes the incorporation of Ericsson's 5G platform in the radio part of the Kosovo Telecom network.

Rizvanolli also said that Kosovo Telecom plans to reach up to 60% coverage of the country's territory by the 5G network by the end of 2024.

Shares in Ericsson Nikola Tesla traded 0.51% lower at 195 euro on the Zagreb Stock Exchange by 1313 local time on Tuesday.

($=0.914 euro)