Romtelecom privatisation draws nearer

Romtelecom, new offices 2011Romania’s Ministry of Information Society (MCSI) has appointed a consortium headed by Swiss Capital to oversee the complete privatisation of the Romanian incumbent Romtelecom.

The consortium, which is also made up of UBS, law firm Musat & Associates and BT Securities, the brokerage firm for the Transylvanian Bank, beat off a rival bid by Deutsche Bank and Raiffeisen Capital & Investment, which was disqualified for failing to provide all the necessary documentation.

Romtelecom is currently majority owned by Deutsche Telekom-backed OTE.

The two likeliest options for the privatisation are for Telekom to buy up the remaining shares or for a listing on the stock exchange.

Romtelecom is one of the leading providers of DTH, cable and IPTV services in Romania.