TCI privatization by June 21

Tehran, May 21. MOBNA – An amendment to this year’s Budget stipulates that Telecommunication Company of Iran is fully privatized by June 21.

All the necessary work has been done to that end and the company is now ready for the transition.
An informed source indicated that, as with last year, this year’s Budget has referred to TCI as a state-owned company, which is because 51 percent of its stocks are still in government possession.
So far, 5 percent of TCI stocks have been sold out on Bourse, 5 percent given to its personnel, 20 percent distributed as Edalat (justice) shares and the rest will remain with the government.
The government intends to sell the remaining 50 percent stocks in block form to a foreign company with an Iranian partner.
TCI has the country’s monopoly on landline phone and is the largest mobile phone operator in terms of subscribers.

132/16