Romtelecom share sale delay

24 Nov 2006

The Romanian government’s planned listing of Romtelecom shares has been delayed until next year, with a number of issues still to be clarified between the telco’s auditors KPMG and the privatisation advisors Credit Suisse/IEBA Trust. Credit Suisse was due to have submitted its proposals for the sale last month but a number of problems have emerged, reports ACT Media quoting Minister of Communications Zsolt Nagy. The government has a 45.99% stake in Romtelecom, with the remainder owned by OTE of Greece.