Cell Communication License Sold for USD 40 mln

Bloomfin Limited company will pay GEL 71.8 million (USD 40 million) for a cell communications license, the Georgian National Communications Commission (GNCC) reported.

Bloomfin Limited, which has never operated in the Georgian communication market, won an auction held by the GNCC on February 7. Telecom Invest Georgia was competing for the bid as well. No information is available about these companies.

The opening bid for this license was GEL 4.2 million (USD 2.3 million).

According to the Georgian media reports Bloomfin Limited was set up just recently by Georgian businessmen Kibar Khalvashi, who owns shares in Tbilisi-based television stations Rustavi 2 and Mze.

Currently, only two mobile companies – Geocell and MagtiCom – operate in Georgia.