OTE will make a written offer for Romtelecom shares next week

Newsroom 19/05/2011 | 12:58

Greek company OTE, which runs on the Romanian market telecom operators Romtelecom and Cosmote and GSM retailer Germanos, will forward next week a written offer regarding the purchase of the stock the Romanian state holds in Romtelecom.

 At the moment, OTE owns 54.01 percent of the Romtelecom shares, while the remaining stock of 45.99 percent of the shares are in the possession of the Romanian state.

 The state announced its intention to sell its stock and has asked OTE to make an offer. The state previously said it expects EUR 1 billion for the stock.

 German telco operator Deutsche Telekom also is involved indirectly in the Romtelecom shareholding structure, as it holds 30 percent of OTE shares.

 Representatives of OTE and Deutsche Telekom came to Bucharest last week to have talks with officials from the Ministry of Communications. They asked for a series of clarifications and a written proposal will be forwarded next week.

 The proposal will also comprise the OTE position regarding the process of valorifying Romtelecom shares owned by the Romanian state.

 OTE and Deutsche Telekom were represented by Roland Mahler, member in the administration board of Deutsche Telekom, in charge with the European subsidiaries; Michael Tsamaz, president of OTE; Yorgos Ioannidis, general manager of Romtelecom; Stefanos Theocharopoulos, CEO of Cosmote.

 The Romanian state was represented by Minister of Communications Valerian Vreme, State Secretary Iosif Moldovan, Secretary General Adrian Kalapis and Deputy General Secretary Ionut Negrescu.

 “The topics on the agenda were the evolution of the telecom market in Romania and in Europe as well as the situation of Romtelecom and its evolution of late,” according to a press release from the Ministry of Communications.

Otilia Haraga

 

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