This is the government’s third attempt to sell its 45.99% stake in Romtelecom, which is majority owned by Greece’s largest telecom company OTE.
The Greek company in 2011 declined to buy out the state’s shares in Romtelecom, citing unfavorable economic conditions.
Romtelecom is Romania’s largest fixed line telecom operator. The company reported net profit of 312.6 million lei (EUR71 million) in 2012, versus losses a year earlier, on total sales of RON2.73 billion. (EUR1=RON4.404)