RomTelecom to be fully privatised by 2006

The full privatisation of RomTelecom, POSTelecom and the National Radio Communications Company (SNR) is to be completed by 2006. These will be the priorities of the new Minister for Communications and Information Technology, Zsolt Nagy. “I have met the RomTelecom management and we are going to look into the best method for privatisation. Most likely it will be done through floatation of a stake on the stock exchange,” said Nagy. RomTelecom’s majority shareholder is OTE Group of Greece, which owns 54.01% of the share capital. The remaining shares are held by the Romanian State. Privatisation of POSTelecom and SNR will be discussed between the ministry and the management of the two companies and is expected to take place this year. POSTelecom is 80% owned by Compania Nationala Posta Romana (Romanian Post Office). The remaining shares are held by Grupul Industrial Roman (10%), Banca Comerciala Romana (5%), SIF Oltenia (2.5%) and SIF Banat-Crisana (2.5%). SNR was established in 1991 when Rom Post Telecom was broken up and reorganised. It is the main provider of radio communications services in Romania and oversees the operation and development of the national radio commmunications system. It entered the fixed telephony market in January 2004. ZF