4iG to acquire controlling stake in Albanian telco
Listed IT company 4iG on Wednesday said it entered into a definitive sale and purchase agreement to acquire an 80.27% stake in ALBtelecom, the biggest fixed-line telecommunications service provider in Albania, from Cetel Telecom, a unit of Turkey's Calik Holding, according to a report by state news wire MTI.
4iG will acquire the stake in a multi-step transaction that will also involve the acquisition of "around 3%" of 4iG by Calik Holding, as an institutional investor.
"The cooperation could open up further joint business opportunities for Calik Holding and 4iG in the Balkans and Central Asia," 4iG said.
The Albanian state will keep its minority stake in ALBtelecom, comprising 13.78% held by the Ministry of Finance and Economy and 2.47% owned by the Albanian Post.
The acquisition is expected to close by the end of January 2022, pending approval by Albania's competition authority.
ALBtelecom has 168,000 fixed-line voice, 129,000 internet and 71,000 TV subscribers. It is Albania's third-largest mobile telco with 420,000 mobile subscribers.
ALBtelecom has an optical backbone network of 4,500 km, the largest in the country, and 450 mobile repeater stations. It also has 88 of its own shops across the country.
Last year, ALBtelecom had revenue of EUR 57.9 mln and EBITDA of EUR 17.4 mln.
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