Wolf Theiss Tirana advised the Greek telecommunications group OTE in the agreement to sell Telekom Albania

Wolf Theiss Tirana Partner Sokol Nako and Associate Kristaq Profkola acted as legal counsels to OTE Group in a EUR 50 million agreement entered with the Bulgarian company Albania Telecom Invest, for the sale of the OTE’s controlling stake in Telekom Albania. The transaction is subject to customary closing conditions, including the approval by the competent local authorities and financing, and is expected to be completed within the first half of 2019.

Telekom Albania, whose majority shareholder is OTE, operated as Albanian Mobile Communications (AMC) until July 2015. The company was acquired by OTE Group back in 2000.