Cell Communication License Sold for USD 11 mln

Argotex will pay GEL 20 million (USD 11 million) for a third general cell communication frequency license, the Georgian National Communications Commission (GNCC) reported on April 25.

Argotex – which has never operated in the Georgian telecommunication market – and Geocell, which along with MagtiCom is a leading cell operator company in Georgia, participated in an auction held by the GNCC on April 25.

The initial bidding price was set at GEL 8.4 million (approximately USD 4.6 million).