Subscribers to forfeit phone line after deposit withdrawal

their deposits are required to forfeit their landline and/or mobile phone lines.
Saaber Feizi, in conversation with MOBNA and in answer to the question “What would be the position of subscribers who have collected their deposits after Telecom privatization?” he replied that they have to forfeit their phone lines anyhow, and that is in no way relevant to Telecom privatization.
He added that after Telecom privatization, subscribers’ deposits will remain with Telecom unless they wish to forfeit their phone lines.
Civil Act article 623 stipulates that any profit earned from an investment belongs to the owner, therefore, not only the conversion of deposits to share but also the conversion of profit accrued over time of nearly 40m subscribers is obligatory.
Telecom directors, however, rule out any conversion of such deposits to shares.
Iran Telecom assets now stand at 140,000b Rial of which 40,000b Rial are subscribers’ deposits.

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