Cosmote bought an additional 12.6% of Albania Mobile Communication (AMC) from the state for EUR48.2 million (USD62.56 million). Cosmote’s stake is AMC is now 97.6%. Deputy Economy Minister Enno Bozdo said Cosmote, wholly owned by Greek incumbent OTE, had outbid rivals Nexus Private Equity Partners, Bedminster Capital Management and Axos Capital for the shares. ‘We consider this as a very successful sale and another vote of confidence of foreign investors in Albania. Its value is all the more as we see the European economy and some Balkan countries showing signs of recession,’ Bozdo added.
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