Cell Communication License Sold for USD 10,3 mln

Geocom Invest has bought a GSM-1800 mobile phone license after winning a tender for GEL 17,8 million (USD 10,3 million), the Georgian National Communications Commission (GNCC) said on December 25.

Geocom Invest is little-known company which has never operated in the Georgian telecommunication market.

Magticom and ServiceLine were also bidding for the license.

The initial bidding price was set at GEL 7.7 million (approximately USD 4.4 million).

Currently there are two mobile phone operators in Georgian: Geocell and MagtiCom. The Russian Vimpel-Communications company also plans to enter the market.

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