Greece’s OTE is understood to be in talks to buy the Albanian incumbent telco Albtelecom.

Quoting unnamed sources, Ekathimerini reports that representatives of the two companies have met on a number occasions but have yet to reach an agreement.

The main stumbling block appears to be cost, with Albtelecom’s owners asking a price of between €200 million and €230 million, including €70 million in loans, that OTE regards as too high.

Albtelecom has been majority owned by CETEL Telekom, a Turkish consortium made up of Çalik Group and Turk Telekom, since 2007.

Its services include an IPTV service named Shërbime IPTV.

Deutsche Telekom-backed OTE already has a presence in Albania through a mobile company named AMC.