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OTE on track to sell up in Albania and Romania

OTE on track to sell up in Albania and Romania

Hot on the heels of reaching a deal to sell its Albanian operations, OTE Group is reportedly now discussing a sale of its majority stake in Telekom Romania to a consortium of investors.

Bulgarian news website Capital quoted local businessman Spas Roussev as saying that he was working with a partner on a possible acquisition of the unit. If this deal was successful, Roussev added that they would then seek to obtain a wireless business in Macedonia.

Roussev also controls the company that earlier this week agreed to buy Telekom Albania for €50 million, subject to regulatory approval. He also controls the owner of Bulgarian operator Vivacom, and has confirmed that he is seeking to expand his involvement in the telecoms sector in the Balkans.

OTE Group holds a 54% stake in Telekom Romania’s fixed-line business and around 70% of its mobile operations. It is the third largest operator in the market. If it is able to divest its holdings in both Albania and Romania, its remaining business will be focused on Greece.

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