Govt Approves Sale of 76% of Albtelecom to Turkish Consortium
TIRANA – Albanian government on Wednesday endorsed the sale of 76% of the country’s landline operator Albtelecom to a joint company of Turkey’s Calik Group and landline operator Turk Telekom for Euro120 million.
The contract for sale of 76% of Albtelecom was signed in June by Albania’s Economy Minister Genc Ruli and Ahmet Calik, president of the Turkish company.
Albanian government still owns 26% of the shares.
Albtelecom revenue was $156m million last year and net profit was $30 million.
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