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

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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