Tirana, 28 Feb 07 (AENews) – Government of Albania (GoA)
had begun procedures to sell off its minority stake in the Albanian mobile
Communications AMC, the leading mobile operator in the country.

GoA
owns 12.5% in AMC. The company is under the control of the Greek giant Cosmote,
which owns 85%. Albanian law does not guarantee rights for minority
stakeholders, which means that the majority shareholder is the sole candidate
to bye these shares.

The government is now trying to appraise the value of its
stake.
Cosmote brought AMC in 2000 after paying USD 85.6mn
for 85% of shares. AMC revenues hiked to EUR 151mn in 2006. Meanwhile, net
profit reached EUR 49.9mn.

Posted by on Feb 28 2007. Filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry