The Communications Commission has approved the sale of 100% stakes in Watertrail Industries and Investco Alliances – companies belonging to VEON Georgia Holding B. V, which is in turn owned by VEON Georgia. 

On 4 April 2022, VEON Georgia wrote to the Communications Commission seeking approval for natural person Khvicha Makatsaria to purchase 100% stakes in Watertrail Industries and Investco Alliances. 

According to the Law of Georgia on Electronic Communications, “a notice of intent to merge, to acquire an ownership interest or shares, or operating assets shall be provided to the Commission before such merger or acquisition. The notification obligation shall rest on the authorised person participating in the merger, or whose ownership interest or shares or operating assets are acquired.” 

According to the same law, “the Commission may, within 15 days after receipt of a complete notification by an authorised person of a merger or acquisition, issue a consent to the merger or acquisition, or decide to commence administrative proceedings to investigate the merger or acquisition to determining its potential impact on competition in the relevant segment of the service market.” 

Having studied the case, the Communications Commission determined that the purchase of the aforementioned companies by Khvicha Makatsaria will not affect the competition on the electronic communications market, and that the transaction is compatible with the current competitive environment on the electronic communications market. 

Thus, the Commission has decided to approve the sale of shares.