Romtelecom should be listed on the stock exchange, in Bucharest and London/Frankfurt, says Romanian Minister of Communications

Newsroom 22/10/2013 | 13:16

Dan Nica (in picture), the Romanian Minister of Communications, said his main option in the Romtelecom privatization case is to list Romtelecom on the stock exchange.

“We may have a dual listing, Bucharest-London and Bucharest- Frankfurt, “ said the minister during the ZF Digital event.

At the moment, the Romanian state still has a 45.99 percent stake in Romtelecom, while Greek group OTE owns the major share package of 54.01 percent.

The contract with the specialized consultant who will advise the state in selling the share package it owns in Romtelecom should be signed before November 15, said the minister.

The specialized consultant, investment bank or a consortium made up of a legal consultant & an investment bank of international reputation should have an average turnover of RON 1 billion over the past three years, and have been present on the market for at least 5 years. Another sine qua non condition is the absence of any contractual consultancy relations between the specialized consultant and Romtelecom, Cosmote or OTE. These conditions were published on the website of the Ministry of Communications.
Otilia Haraga

 

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