Albtelecom minority stake tender postponed till Nov. 30

TIRANA, Nov. 1 – The Economy and Trade Ministry has postponed the tender for the sale of the remaining 16.7 percent state owned of Albtelocom, whose majority stake is owned by Turkey’s Calik group.
The international tender was initially scheduled for October 28 at the premises of the Economy Ministry, but has been postponed until Nov. 30, while no official reason is reported. The government has set a price tag of 34 million Euros for the sale of the minority stake.
Currently, 76 percent of Albtelecom’s shares are owned by Turkey’s Calik Group, which in 2007 bought them for 120 million Euros.
The Calik Group is also present in Albania with the Eagle Mobile operator and BKT Bank.
Economy Ministry data show Albtelecom possesses 79 percent of the fixed line phone market with 280,000 subscribers.
In 2010, Albtelecom’s revenues reached 114.8 million Euros with an EBITDA margin of 29.6 percent.
The government has identified 1,280 public assets including strategic enterprises it intends to privatize by the end of this year. The privatization list includes remaining state owned shares in strategic oil, and phone companies, small hydropower plants, military facilities and small and medium-sized enterprises; excluding big hydropower plants and dams, schools, hospitals and public buildings and offices which will remain under state ownership.
Apart from the Albtecom stake, the new privatization list compiled by the government includes the sale of oil producer Albpetrol, INSIG, the remaining state-owned shares in the power distribution operator and oil refiner ARMO.