The Romanian Ministry of Communications and Information Society has informed OTE of its intention to sell its 46% stake in telecoms incumbent Romtelecom.
Camelia Enachioiu, spokesperson at the ministry said: “OTE has until the end of the year to make a…
The Romanian Ministry of Communications and Information Society has informed OTE of its intention to sell its 46% stake in telecoms incumbent Romtelecom.
Camelia Enachioiu, spokesperson at the ministry said: “OTE has until the end of the year to make a bid and if the offer is not good enough, then the company will be listed”.
“The minister of communications has estimated at E1bn the value of the stake,” she added.
Greece’s OTE, which is controlled by Deutsche Telekom, holds 54.01% of Romtelecom, while the Ministry of Communications and Information Society holds the remaining 45.99% stake.
Romania had already planned to float a stake in the telecoms incumbent in 2006, but the transaction never materialised.
