Companies owning third largest mobile internet service provider in Georgia for sale

On the Georgian market since 2007, Veon Georgia's assets amount to ₾120 million ($39.6mln/€37.5mln), with the income of the company totalling ₾100.5 million ($33.2mln/€31.4mln) in 2021, business media outlet bm.ge reported. The website also said the company had 1,279,951 subscribers in the country. Photo: marketer.ge

Agenda.ge, 05 May 2022 - 18:02, Tbilisi,Georgia

The Georgian Communications Commission has approved the sale of Watertrail Industries and Investico Alliance, two companies that own Veon Georgia (Beeline), the third largest mobile internet services provider in the country. 

ComCom revealed Veon Georgia had applied to the Commission for a prior approval for the acquisition of 100-100 percent shares in each company by Georgian businessman Khvicha Makatsaria on April 4. 

The Commission established the acquisition of the companies by Makatsaria would not affect competition in the electronic communications market, adding the transaction was “compatible with the competitive environment” in the electronic communications market.

Watertrail Industries owns 71 percent of Veon Georgia, with the remaining 29 in ownership of Investico Alliance. 

On the Georgian market since 2007, Veon Georgia's assets amount to ₾120 million ($39.6mln/€37.5mln), with the income of the company totalling ₾100.5 million ($33.2mln/€31.4mln) in 2021, business media outlet bm.ge reported. The website also said the company had 1,279,951 subscribers in the country.

Per the Law of Georgia on Electronic Communications, those taking part in intended acquisition of shares, stocks or operating assets are required to notify the Commission prior to the merger or acquisition.