The Romanian Ministry of Communications (MCTI) announced on Thursday August 25, 2005 it received letters of intention from twelve investment banks interested to offer thei financial advisory services in the privatisation of incumbent fixed line operator Romtelecom.
The banks are: ABN-AMRO; BNP Paribas; the consortium formed by Deutsche Bank and BRD Securities; CA~IB; Citibank; Credit Suisse First Boston; the consortium formed by HSBC and BCR; JP Morgan; Lazard & Co; Merrill Lynch; Morgan Stanley; the consortium formed by UBS, ING and CET.
The privatisation will be achieved through the sale of MCTI'™s share in Romtelecom which, it is envisaged, will be effected by way of an Initial Public Offering (IPO).
The government owns 45.99% of Romtelecom shares, while Greek OTE holds the rest.
A short list of candidates will be announced in the immediat future, MCTI said.
