The Romanian Government may sell its participation in Romtelecom by August 11th, 2014


Mediafax news agency announced today that it has signed the agreement for the provision of the Ministry for Information Society (MSI ) and Swiss Capital , BT Securities , UBS Limited.


According to MSI , the contractual obligations of the consultant is to provide consulting services in the process of finalizing the privatization of Romtelecom , the whole privatization process, preparation of all documents and perform all measures whose necessity arises during the privatization process, including the aimed at optimizing the privatization process ( purchasing, sales assets , division, merger , conversion , etc. . ) , development and implementation of the privatization strategy and method of privatization proposal .


The fee specified in the contract signed is composed of a fixed component worth £ nil and a variable component representing 2.085 % of the gross profit from the sale of all or part of the shares , which includes all taxes and charges imposed by the legislation in force , including VAT .


The deadline for the achievement of contractual services is August 11, 2014 , indicating that this period may be extended depending on the situation at that time.


Romtelecom ‘s shareholders are OTE International, which owns 54.01 % in the company , and the Romanian state through MSI which owns 45.99 % of the capital .

Source: mobile-news