5% Telecom shares at Bourse date unknown

Tehran, Apr 6. MOBNA – Although it was previously planned that Telecom shares would be offered on the Tehran Stock Exchange by Mar 20, 2008

, its managing director now says that the time when 5% of shares is to be offered on the TSE for price determination has not yet been set.
Saaber Feizi, in conversation with MOBNA, stressed that Iran Telecom has been accepted by the TSE in principle, but the timing of the sale of its 5% shares on the TSE for price determination must be announced by the Radio Communication & Regulations Organization (RCRO).
He indicated that the information produced by the Telecom to the Privatization Organization has been sufficient, and the Telecom is ready to produce further data if required.
According to item 3 of article 44 of the Constitution, 80% of shares of 32 telecom companies were due to be privatized by Mar 20, 2008.
Telecom assets are estimated at around 140,000bn Rial, of which nearly 40,000bn Rial are subscribers’ deposits the fate of which has not yet been decided.


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