Iran's State Telecom To Sell 51 Percent Of Stock In Privatization Bid
TEHRAN -- The state-owned Telecommunication
Company of Iran will offer 51 percent of its stock for sale in Tehran's stock
market next week. The value of the stock is estimated at 7 billion dollars.
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A worker at the state-owned Telecommunication Company of Iran
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Radio Farda reports that one of the parties most
interested in acquiring a controlling stake in the company is the Revolutionary
Guards, already a major economic force in Iran.
The Guards are owners or investors in the ship building sector, oil and gas
extraction, petrochemicals, agriculture, and air cargo transport, among other
sectors.
The stock sell-off by the Telecommunication Company of Iran is in line with
long-standing government goals of privatizing state businesses.
However, the acquisition of the stock by the Revolutionary Guards, if realized,
would simply transfer control of the telecommunications company from the state
to one of the country's biggest quasi-state entities.
Copyright (c) 2009 RFE/RL, Inc. Reprinted with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave., N.W. Washington DC 20036. www.rferl.org
... Payvand News - 09/04/09 ... --
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