Uncertainties halt privatization of Telecommunications Company of Iran
TEHRAN, Nov. 1 (Mehr News Agency) - General Inspection
Organization of Iran has cast doubts on the privatization of the
Telecommunications Company of Iran (TCI), saying some uncertainties exist in the
deal.
The GIO has prepared a report on the doubtful points and submitted to related
bodies in the Article 44 Parliamentary Committee for further investigation,
according to the Mehr News Agency.
Based upon Iran''s Constitution, the GIO is in-charge for regular controlling
and supervising executive bodies, military and disciplinary forces, state-run
institutions and companies, municipalities and their subsidiaries, public notary
chambers, foundations of public utility, revolutionary organs, and institutions
whose financial resources totally or partially belong to the government.
Three Iranian firms, part of a consortium named Etemad Mobin Development, bought
50 percent plus one share of Telecommunication Company of Iran for 78.191
trillion Iranian rials (US$7.8 billion) on September 20, 2009.
The importance of this deal is that TCI has monopoly over Iran''s fixed line
infrastructure, Iran''s largest cellular operator (MCI), and Iran''s major
Internet service provider and data communication operator (DCI).
Septermber 29, 2009 -
Last week, General Mohammad Ali Jafari, chief of the Islamic
Passdaran Revolutionary Guards Corps (IRGC) noted that the IRGC does
not face "many competitors or troublemakers" against its economic
activities, adding that "the IRGC has never been rogue in entering
an area not related to its revolutionary duties." Yesterday, Iran's
news agencies reported that the IRGC had purchased a 51 percent
share in the Iranian Telecommunications Company. According to these
news agencies, the Etemad-e Mobin consortium, affiliated with the
IRGC, defeated the bid of its competitor Mehr-e Eghtesad-e Iranian,
affiliated with the Basij, and purchased 50 percent plus one share
of the Iranian Telecommunications Company in less than a half hour
in what amounted to be largest deal ever in the Iranian stock
market.
