Telecom shares foreign buyers allowed 25% shares – Privatization Org chief

Gholamreza Heidari Kord Zangeneh, in conversation with MOBNA, in answer to the question: “Can foreigners own more that 50% of Telecom shares?” referred to the Foreign Investment act, saying we consider the sale as wholesale, and act accordingly.
He added that of 70m landline and 50m mobile phones existing in the country, only 35% of them could be sold to foreign applicants when offered on the Tehran Stock Exchange.
Recently, the PO announced numerous foreign applications for shares of Telecom subsidiaries.
Foreign buyers prefer to purchase large number of shares in bulk, solely for controlling purposes.
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