The Ministry of Communications and Information Technology (MCTI) is currently finalising the necessary documentation to enlist the services of an international financial consultant by tender, in order to sell at least 30% of the stake the Romanian State holds in RomTelecom, MCTI minister Dan Ioan Nica said at the end of last week.
"Any decision in this respect will be made in accordance with the trend on the international telecoms market," he explained.
Nica said that the state would turn to an international financial consultant in order to sell the stake, most likely be a foreign investment bank.
Greece-based company OTE holds 35% in RomTelecom's share capital, under the privatisation contract concluded in November 1998, as well as the usufruct of another 16% in the same company.
Greek telecommunications operator Hellenic Telecommunications Organisation (OTE) has already voiced plans to increase its stake in RomTelecom from 35% to 51%, according to the statements of the Greek Transport and Communications minister Christos Verelis, quoted by Kathimerini publication.
"OTE is interested in increasing its stake to 51%, this year, if possible. The transaction will comply with the market rules, though," Verelis specified. The minister added that the deal would be funded by banking credits.
The Greek Transport and Communications minister last week met with PM Adrian Nastase, Communications minister Dan Nica and Transports minister Miron Mitrea, in Bucharest.
Christos Verelis added that OTE's plan to better position itself in Romania was a result of the prospect of the Romanian telecommunications market deregulation, scheduled for 2003.
Apart from increasing its stake in RomTelecom, OTE is also planning to play a more important role in the company's management, according to Verelis. "We want OTE to play a more important part at RomTelecom. We already have certain initiatives in this regard," the Greek minister said.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
