Georgia Launches Privatization of its Largest Telephone Operator

The Georgian Economy Ministry announced on April 12 that it would be accepting privatization bids for the country’s largest local and international telephone operator company for an initial price of USD 50 million.

Bids for the United Telecommunication Company of Georgia (UTCG), which has an authorized capital of USD 56.7 million will be accepted over the next month.

According to the conditions set by the Economy Ministry the winning company should maintain the profile of the UTCG for 3 years.