Albtelecom sold to Calik, Turk Telekom

June 19, 2007 in ESI BUSINESS

TIRANA, June 19 – Albania’s government has sold 76 percent of its landline monopoly to a joint company of Turkey’s Calik Group and landline operator Turk Telekom for 120 million euros ($161 million), an official said on Tuesday.

Calik was the sole bidder in the tender for Albtelecom in May 2005.

But the Democratic Party government, which came to power in July 2005, refused to ratify the deal, saying Calik still had to satisfy the condition of having a partnership with a strategic telecoms operator.

To satisfy that condition, Calik teamed up with Turk Telekom to form a joint company, 80 percent held by Calik and 20 percent held by Turk Telekom.