Mexican Telcel Bids for Georgian Telecom

Georgian Economy Minister Lexo Alexishvili said on January 20 that the Mexican company Telcel made a bid for privatizing controlling shares of the Georgian Telecom.

State Minister for Economic Reforms Kakha Bendukidze said that Georgia can not take decision over selling its shares and has to consult at first with other shareholders of the Telecom.

The Georgia government owns 51% of Telecom?s shares. The U.S. Metromedia Communications Group – 30% and remaining 19% is owned by the Bulcom, a Cyprus-based investment company.

The Georgian Telecom was established in 1994 to provide domestic and international long distance services.