Iran to privatize 51% of telecommunication sector by March ’08

September 22, 2007

TEHRAN – Deputy communication and information technology minister predicted here on Friday that 51 percent of the Telecommunication Company of Iran (TCI) will be privatized in the current Iranian calendar (to end March 19, 2008).

Talking to MNA, Vafa Ghaffarian added that shares of the sector will be offered to the Tehran Stock Exchange (TSE) from Sept. 23 to March 19.
He said that the government will retain 20 percent of the company’s ownership and the rest will be sold.
The board of directors will manage the state-run part of the company under the Iranian Privatization Organization’s (IPO) supervision, the official noted.
Referring to the capital attraction in the sector, Ghaffarian stated that “there is no limitation for domestic and foreign investors’ involvement