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OTE required an extension of another 45 days to present the offer to Romtelecom shares

The Greek group OTE ( majority shareholder of Romtelecom) required the Romanian authorities an extension of another 45 days since the end of March to present their offer for the taking over of the state participation in the company, the minister of communications, Valerian Vreme stated at a press conference.Vreme said that OTE hired Citigroup as assessor.

The Romanian state announced in November last year they intended to put to value the share package of 46% in the Romtelecom and invited the OTE representatives, the majority shareholder to come with an offer by the end of 2010. But in December, the OTE officials required an extension of the deadline, which has expired at the end of this month.

Last month, Valerian Vreme announced that they expected the offer for extension of the Greek group but at the same time he started the preparations to list the shares on the stock exchange

« We have already received the visit of several investment banks, Goldman Sachs and Rothschild, and Citibank expressed their interest to ensure consultancy in Romtelecom listing » Vreme said, who mentioned that the choice of the consultant will be made together with OTE.He also said that in the discussions they proposed the merger between Romtelecom and Cosmote before the listing on the stock exchange, which would lead to the appeareance of the biggest telecom operator on the Romanian market.

The Romtelecom shareholders are OTE – the main telecommunication operator in Greece with 54.01% of the shares and the ministry of communications (MCSI) with 45,99% of the shares. The German operator Deutsche Telekom has a participation of 30% of the OTE.

Sursa: http://www.actmedia.eu

Tags: shares romtelecom offer extension required

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