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Georgia: Largest telecommunications operator for sale Print E-mail
Wednesday, 12 April 2006
Georgia’s government will sell the country's largest telecommunications operator. The government will soon announce a tender for the privatisation of Sakartvelos Elektrokavshiri (SE).

The Economic Development Ministry said that the minimum sale price was US$ 50 million. The state currently holds a 90.95% stake in the company. The outcome of the tender will be announced on May 12.

The main conditions of the sale are that the purchaser should maintain the company's current operations for three years and pay 50% of the purchase price within one month of the sale being agreed.

Unofficial reports say that Turkish, American and Russian companies have already expressed interest, as well as several European companies, including Metromedia and Rostelkom. Metromedia holds controlling stakes in Georgian mobile operator Magticom GSM and Telecom Georgia.

Source: British Broadcasting Corporation, Kavkas-Press - WDR/Intelecon Regulatory News