| Georgia's ministry of economic development said that the country's largest fixed-line operator, Georgian United Telecommunication Co. (GUTC) is for sale.
Ilya Gotsiridze, head of the privatisation department at the ministry, said that the starting price for GUTC is US$ 50 million. The government owns 90.95% of GUTC. Potential buyers must submit bids to the ministry between April 3 and May 3. The winning bidder will be announced on May 3.
The government hopes to raise US$ 185 million this year from the privatisation of state-owned companies compared with the US$ 215 million raised in 2005 when several state-owned enterprises including a copper plant and a shipping company were privatised.
Source: Reuters - WDR/Intelecon Regulatory News |