“Morgan Stanley and Romtelecom will start negotiations on the contract,” the hard-line telephony operator said in a statement.
Morgan Stanley outbid JP Morgan, Goldman Sachs and Merrill Lynch Bank of America for the contract.
Romtelecom is 54.01%-owned by the Greek group Hellenic Telecommunications Organization, or OTE, while the remainder shares are in the hands of Romanian IT&C ministry.
The ministry wants to sell off its holding in Romtelecom and is currently considering a possible listing on the Bucharest stock exchange, either preceded by a merger with Cosmote Romania or not.
OTE owns 70% in Cosmote Romania, while Romtelecom holds the remaining shares.
Romtelecom is Romania’s largest fixed line telecom operator. The company reported revenue of EUR166.1 million in the second quarter, down 7.1% on the year. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 19.7% to EUR29.2 million.