RomTelecom listing expected in fourth quarter

25 Feb 2008

A listing of all or part of the state’s 46% stake in Romania’s dominant wireline telco, RomTelecom, is being planned for the fourth quarter of this year. The timing of the initial public offer (IPO) will depend on the general conditions of domestic and international stock markets. ’’Optimistically speaking, October-November is the period in which we foresee the listing, provided all goes well. We have also discussed this with OTE and agreed that, if all goes well, we will get onto the market in the fall. We are speaking with the Bucharest Stock Exchange, as well as with the stock exchanges in London and Vienna,’ Minister of Telecommunications Karoly Borbely told local newspaper Business Standard. The Romanian government owns 46% of RomTelecom, with the remainder held by OTE of Greece.