Deutsche Telecom purchases AMC

SEP 23 Deutsche Telecom, the German giant in telecommunications has bought out its Greek counterpart Hellenic Telecommunication Organization SA (OTE) which in return owns an 82% stake in Albania Mobile Communication (AMC). The change in ownership of AMC was approved yesterday by the Competition Authority of Albania (CAA)
With the latest transaction DT is expected to improve the operator through strategic policies, technological developments and innovations, and news services offered. Also, competition in communications market in general and in the mobile communications market in particular in Albania will improve considerably.
According to DT’s CEO, Ren顏bermann, the latest move emphasizes growth in Central and Eastern Europe. “DT intends to further expand its earnings and growth profile in this region via partnership with Greek OTE -a key step in the “focus, fix and grow” strategy. While mega-deals are often announced in this industry only to be cancelled again, we have taken a major expansionary step,” said Obermann. “OTE is a near perfect fit for us, both in terms of its growth potential and its regional presence. The investment expands and strengthens Deutsche Telekom’s already very strong presence in Central and Eastern Europe.”