Georgia Sells its Largest Telephone Operator

The Georgian Economy Ministry announced on February 13 that it will sell its 90.65% state shares in the country’s largest local and international telephone operator company for an initial price of USD 50 million.

Privatization bids for the United Telecommunication Company of Georgia will be accepted by the Economy Ministry, starting from April 12, 2006. The deadline for bids will expire one month later.