Iran prepares for TCI IPO

The government of Iran is preparing to float a 5% stake in national fixed line operator Telecommunications Company of Iran (TCI). The initial public offer (IPO), which is due to take place this weekend, could be worth up to USD425 million, according to a report from MEED.com. TCI is the monopoly wireline operator in Iran and also dominates the cellular sector via its wholly owned subsidiary MCI.