Pishgaman Kavir Yazd withdraws from TCI share bid

“Pishgaman Kavir Yazd Consortium were invited to cooperate but since the company had intended to buy TCI’s administrative shares it did not accept to buy TCI small shares,”  an official in Tose’eh Etemad Mobin Consortium public relations told Mobna news agency.
“However, other organizations such as Social Security Organization and Mellat Bank are prepared to buy the shares and negotiation on the issue is in its final stage,” he said.
TCI administrative share (50% plus one share) was obtained by Tose’eh Etemad Mobin Consortium on Oct 27 and will be sold as small shares to applicants. The consortium is required to pay 20% of the trade amount and the rest in 6 installments.
TCI stocks are worth 8 trillion rials and the company, along with its 33 affiliates, has been privatized on the basis of the new privatization law.
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