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OTE lands €50M deal for Telekom Albania stake

Deutsche Telekom AG said Jan. 16 that its Greek subsidiary OTE Group has agreed to sell its entire stake in Telekom Albania Sh.A. to Bulgarian company Albania Telecom Invest AD for €50 million.

The transaction, which is subject to customary closing conditions, is expected to be completed in the first half.

Spas Roussev, controlling shareholder of the Bulgarian incumbent telecom operator VIVACOM, and Albanian-Bulgarian investor Elvin Guri control Albania Telecom Invest.

Eurobank served as OTE's financial advisor.