Albanian Telekom bought by Bulgarians for ridiculous sum

The sale of the mobile phone company “Telekom Albania” has been finalised for 50m euros in society “Albia Telecom Invest AD”, with shareholders of the powerful Bulgarian businessman Spas Roussev, as well as Mr. Elvin Guri, a prominent Albanian entrepreneur in Bulgaria.

News of reaching agreement has been confirmed through a statement from group “O TE” in Greece, which controls also “Telekom Albania”.

Chief Executive and Group Chairman “OTE”, Michael Tsamaz, noted that, the sale of “Telekom Albania” concluded a successful investment in Albania for this group and that this is a strategic decision. According to him, the new buyers will increase the company's position on the Albanian market.

The social freedom of society by a strong group of investors and entrepreneurs guarantees the growth of society and creates conditions to further strengthen its market positions”, Michael Tsamaz said.

Spas Roussev comes from an experience in Bulgaria's telecommunications field, as the leading shareholder of society “Vevacom”, the largest in this country. In 2017 it had a powerful financial year, with 455m euros in revenue and 165m euros in profits.

Other shareholder Elvin Guri has worked as a banker, company founder and director, and as an investor for more than 20 years. His (CV) life story involves numerous experiences such as “Price Waterhouse”, B ERZH and “BNP Paribas”.

His company “River Styx Capital” has been involved in transactions in several countries, in the region and beyond. He studied at American University in Bulgaria and at Oxford University.