The state will cash dividends from Romtelecom

Romtelecom will distribute dividends from the net profit the company posted in 2006 and 2007 which have a total gross value of nearly EUR 95 million (RON 404,376,327).

The company approved this measure following the General Assembly of its shareholders.

Thus, the Ministry of Communications which has a 46 percent stake in Romtelecom will cash in nearly EUR 43.6 million which will be delivered to the state budget.

Thus, for 2006 the company approved the distribution of dividends from the net profit in value of EUR 76.6 million (RON 327,096,771), while for 2007 the total gross value of the dividends is EUR 18 million (RON 77,279,556).

The two shareholders of Romtelecom are Greek group OTE International Investments Ltd. With a stake of 54.01 percent and the Ministry of Communications, with a stake of 45.99 percent.

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In a general meeting that took place in October last year, the shareholders of Romtelecom approved the distribution of dividends from the total net profit of 2008-2009, in value of EUR 27.4 million (RON 116,960,391).

In picture: Yorgos Ioannidis, general manager of Romtelecom

Otilia Haraga