Article 44 Commission not convinced by ICT block share assignment

“Experts have criticized assignment of 50% plus one of TCI shares to Tose’eh Etemad Mobin Consortium. The issue has been revised by the new privatization law monitoring commission and its executive and legal ways,” Ali-Asghar YousefNejad told Mobna news agency.
“The TCI block share trade procedure was legal and the commission concluded that some revisions should be made in the new privatization law,” he added.
“In the new privatization law, there is no limitation on assigning government-owned companies’ shares to qualified companies,” he said.
“TCI block share assignment will be revised with regard to the new privatization law again,” he added.
50% plus one of TCI shares were assigned to Tose’eh Etemad Mobin Consortium on bourse on Sep 27.
Although the assignment was hailed the biggest trade in Iran bourse history, it has brought many criticisms because the consortium is affiliated to a government organization.
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