Communications Ministry Awaits OTE's Answer Before Making Decision On Romtelecom's Listing

05.26.2011 ZF English

The government has not made the decision to list Romtelecom shares on the stock exchange yet because he is waiting to see what Greek group OTE will answer this week to Romanian authorities’ question as to whether it is interested in the shares it does not already hold in the telecom operator, Communications Minister Valerian Vreme said Thursday.

"It all has to do with the answers we will get from the OTE group. Upon OTE's answer depends whether we go ahead with a merger between Romtelecom and Cosmote or whether we take smaller stakes to the stock exchange," Vreme told "The Day of Communications" conference answering a ZF question.

Vreme refrained from commenting on statements made by former communications minister Dan Nica, according to whom the Greek group cannot block the listing of a Romtelecom stake on the stock exchange, with the listing being provided for in the 2003 privatization contract.

Amid ZF insistence for him to clarify the situation, Vreme only said OTE "has a certain pre-emption right", without providing further details.