The proposed merger would create the largest telco in the Balkans
Serbia’s largest mobile network operator, Serbia Telekom, has made a bid to acquire neighbouring Telekom Albania, according to reports in the press.
The move has been met with approval by the Serbian government, who would like to see the country’s biggest teco expand its reach in the region.
“It is important that Telekom Serbia is showing its ability to invest in other regional markets, such as Albania, besides Montenegro and Bosnia, where they are already present”, said Serbia’s Minister of Trade and Telecommunication, Rasim Ljajic.
Telekom Albania enjoys a 39 per cent stake in Albania’s telecommunications market, boasting over 5 million subscribers. The company saw a sharp fall in its financial fortunes last year, with revenues tumbling to 68.1 million euro in 2017, down from 77.2 million euro in 2016. The proposed merger would create the region’s biggest telco.
Neither company has yet to officially comment on the proposed deal.