Romanian govt to meet OTE to discuss Romtelecom listing

News Wireless Romania 27 JUN 2011
Romanian govt to meet OTE to discuss Romtelecom listing
Romania's Minister of Communications and Informational Society (MCSI) Valerian Vreme will soon meet with representatives of the OTE Group, Romtelecom's majority shareholder, after OTE asked to discuss the steps needed to list shares in Romtelecom on the stock market, local business newspaper Ziarul Financiar writes. At the end of May, MCSI announced that OTE did not make an offer to the Romanian state to acquire full control of Romtelecom from Romania's government. OTE mentioned that it cannot make an offer for the acquisition of Romtelecom's shares due to reasons related to the continuing economic crisis in the region and in Greece as well as to OTE's current financial strategy of reducing its exposure to debt. However, OTE said it may reconsider its position provided these circumstances change. At the same time, OTE proposed the immediate commencement of the merger process of its Romanian companies Romtelecom and Cosmote.

Categories:

Mobile,  Fixed

Companies:

RomTelecom

Countries:

Greece,  Romania

Tags:

Shareholders & subsidiaries, Government policy

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