Romanian state kicks off procedures to recruit consultant for Romtelecom listing

Newsroom 28/11/2011 | 15:25

The Ministry of Communications started procedures to recruit the consultant who will represent the state in the Romtelecom listing process.

 In an announcement posted on the website of the ministry at the middle of November, it is stipulated that the consultant will offer legal, economic and technical expertise, evaluating “the benefits of the proposed merger and listing on the stock exchange compared to other possible options in the case of Romtelecom.”

 The value of the contract is EUR 200,000 and the length of the contract is 6 months.

 The deadline for applications is November 30.

 Romtelecom is represented in this process by the lawfirm Stoica si Asociatii and the Morgan Stanley Investment Bank.

 Romtelecom is partly owned by the Greek Group OTE that holds a 54.01 percent stake, the remaining 45.99 percent of the shares being owned by the Romanian state, via the Ministry of Communications.

The state initially left OTE the possibility to acquire the remaining share package but the company decided not to, due to difficult conditions in Greece and in the region.
Otilia Haraga

 

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