Two groups show interest in RomTelecom stake
Article Abstract:
RomTelecom SA, a phone operator in Romania, is being privatized by the Romanian government, and two international groups are showing interest. A consortium made up of KPN Telecom of the Netherlands, and Stet International, a division of Telecom Italia, plans to bid for a 35% stake in RomTelecom. Another group, which represents Hellenic Telecommunications Organization SA of Greece and Southwestern Bell Telephone Co. of the US, has also stepped forward for a 35% interest in the company. The two consortia will have to present formal purchase offers by the end of September 1998. The sale is set to be completed by October.
Comment:
Romanian phone operator is being privatized by Romanian government, and two intnl groups are showing interest
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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SBC pulls RomTelecom bid, threatening privatization effort
Article Abstract:
SBC Communications Inc. of San Antonio, TX, has pulled out of its bid to acquire interest in Romania's RomTelecom SA. According to the company's spokesman, Larry Solomon, the company is no longer interested in RomTelecom. The company conducted a comparative analysis on the deal and concluded that the acquisition will not fit with the its strategic plans. Meanwhile, the company's move leaves Italy's Telecom Italia SpA and Greece's OTE to bid for RomTelecom. OTE plans to continue its bid and is presently negotiating with potential US and non-US partners to form a new consortium.
Comment:
Has pulled out of its bid to acquire interest in Romania's RomTelecom
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Greece's OTE gets nod for RomTelecom stake
Article Abstract:
RomTelecom SA of Romania will sell a stake of 35% in its operations to Hellenic Telecommunications Organization SA of Greece. Hellenic Telecommunications Organization, which will pay an amount of $675 million in exchange for the interest at RomTelecom, secured the approval for the proposed deal of Romania's regulators on privatization. Hellenic Telecommunications Organization also pledged to place up to $400 million worth of investments through the years 2001 to 2003.
Comment:
Will acquire a stake of 35% in the operations of Romania's RomTelecom
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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