Telecommunication Company of Iran to be privatized by 21 July: official

“Telecommunication Company of Iran (TCI) is ready to go on sale in the stock exchange and there is no problem it,” Gholamreza Heidari Kord Zangane head of privatization organization told Mobna news agency.
“Five percent of telecommunications stock will go on initial sale in stock exchange by 21 July in order to be valued for its price,” he added.
In line with privatization law, TCI was supposed to be sold off in stock exchange around 12 December 2007 but some arguments about changing countrys telecom subscribers’ deposits to stocks and first mobile operator (Mobile Company of Iran- MCI) not having license were major barriers to privatizing the company.
MCI is one of TCIs subsidiaries.
However, TCI with 140 trillion rials (149 billion dollars) capital was accepted in stock exchange with these conditions: company registration, statute reformation, and changing to public stock.
But so far, selling off TCIs stock has been delayed several times and even on 11 June that was set by the privatization organization, TCIs privatization did not go through.
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