Ministry of Communications and IT (MCTI) was mandated yesterday, during the Government session, to sign the contract providing for consulting activities in relation to having the shares owned by the State in RomTelecom listed in the capital market, according to Minister Zsolt Nagy. “I hope that this decision, which will be published in Monitorul Oficial, paves the way for signing the contract and for the consultant to start the work, so that we can have RomTelecom listed during this autumn”, according to Nagy. The State owns, through MCTI, 45.99 per cent of the fix phone service provider, and the Hellenic communication group OTE controls 54.01 per cent of the shares.

The consultant selected for listing RomTelecom shares in the capital market is Credit Suisse First Boston.

Minister of Communications specified that the stock to be listed at Bucharest Stock Exchange and on an international stock exchange will be decided on the basis of the proposals received from the consultant. “Our intention is to have the whole stock listed during this autumn, but it depends very much on the consultant proposal, on the absorption ability shown by Bucharest Stock Exchange and by the international stock exchange, as well as to the interest toward making the investment,” Nagy said.

According to the contract, Credit Suisse will receive a commission of 1.22 per cent calculated to the trading value registered during the first day of listing, applied to the whole stock of RomTelecom that is state controlled, to which VAT and other taxes add.

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