Telekom Slovenije sells Albanian subsidiary

TIRANA, Oct. 21 – Telekom Slovenije has sold its Albania subsidiary, internet provider Primo Communications to an Albanian company five years after entering the Albanian market. The Competition Authority says 100 percent of the company’s shares were sold to AD-Trade, an Albanian company focused on the trade of sanitary ware for an undisclosed amount.
The transaction comes after the Slovenian subsidiary experienced a shrink in market share and a loss in 2012. Primo registered losses of Euro 1.4 million last year as a result of write-downs. TeleGeography’s GlobalComms Database notes that at the end of June 2013, Primo claimed 3,384 broadband subscribers equating to around 2.0% of the market, down from 3,419 (2.3%) a year earlier.
Back in 2012, Slovenian based Mercator food retailer also left Albania after escalating losses.