The consortium also includes Swiss investment bank UBS, Musat si Asociatii – one of the largest law firms in Romania and BT Securities – the broker of Banca Transilvania. The rival offer submitted by Deutsche Bank and Raiffeisen Capital , has been disqualified by the ministry because it did not include all necessary documents, the institution said.
Legal consulting is provided by law firm Bulboaca si Asociatii.
The consortium led by Swiss Capital will not collect a fixed amount, but only a success fee if the share sale is finalized. The success fee is 2.085% VAT included from the state’s profit from selling the shares. The state considers profit the difference between the nominal value of Romtelecom shares, of RON146.6 million (EUR30.5 million), and the amount it will get at the end of the process.
Currently the two main options that the Romania state has are either to sell the shares to German group Deutsche Telekom, or stock exchange listing, according to market information. The German group is the majority shareholder of Greek group OTE, which in turn controls Romtelecom.
(English version by Daniela Stoican)