State gives up golden share in RomTelecom

The state gave up its golden share in the national fixed telephony operator RomTelecom, as the Government passed a normative act turning it into a common share on December 18, 2002. The decision endorsed on December 18/2002, as an addition to the Government Decision 1,260/2002 on approving RomTelecom’s privatisation strategy, shows the Government approved “turning the nominative control share into a common share,” with the provision included as a new article. The same article specifies the State’s representatives in the board of the company are authorised to take steps to modify RomTelecom’s legal establishment documents pursuant to the privatisation strategy. ZF