RomTelecom privatisation put back to 2009

The Romanian government says a listing of shares in the country’s dominant wireline operator, RomTelecom, will not now take place until 2009. Minister of Communications and Information Technology, Karoly Borbely, said: ‘We want to list RomTelecom, where the State holds 45%, in the spring of 2009, at a good price.’ The government had previously announced that a sale would take place in October or November this year after earlier attempts had stalled in 2006 and 2007. A stake of at least 10% is expected to be offered to the public. OTE of Greece owns the remaining 55% of the telco.